Bristol City change club constitution as Robins undertake house-keeping ahead of possible investment

Bristol City may be paving the way for future investment.

The Robins have notified Companies House of a ‘Resolution of Allotment of Securities’ on Monday and the alteration is free to see on the club’s filing history.

Bristol City Football Club Limited is listed as company no. 03230871 on the Gov.uk website enabling supporters to keep abreast of the West Country outfit’s yearly accounts and more.

Football finance expert Kieran Maguire explained on Twitter what the measure means: ‘Bristol City to change club constitution to allow it to issue more shares to investors’.

He also gave his opinion on what it means and played down any supporter concerns: ‘It’s a housekeeping exercise IMO. Nothing of major concern.’

The club recently issued a return of allotment of shares notice posted on Companies House at the beginning of this month, detailing 15,305,640 shares issued for £1 each.

The action means that majority share holder Steve Lansdown has effectively written off £15.3m of debt by converting it into club shares, as he has often done at the beginning of June each year.

Last year Lansdown converted £14m of debt into shares on June 2, and he did the same in 2020 through the same method, for £71m, while in 2019 it was £10m.

The financial outlook is not so healthy for the Robins currently, after Bristol City announced record losses of £38.4m in their last accounts published at the end of 2021.

And the Guernsey-based billionaire has spoken previously about wishing to find outside investment for the club, and even contemplating a time after the Lansdowns at Ashton Gate.

He explained to a fans’ podcast last year that he is looking to bring in outside investment and he has mentioned the word ‘legacy’ and ‘succession’ several times when discussing his future role at Bristol City, where he has been in control since 2007.

BristolWorld asked the club for clarification or comment but none was given.

Meanwhile Bristol Sport are advertising for a new chief financial officer, although current CFO Gavin Marshall is relinquishing his role but not leaving the group.

Head of communications Lisa Knights has been added to the board of directors for Ashton Gate Stadium.