In a week which has seen many people fearing for their savings, Bristol City Chairman Steve Lansdown has invested more of his own in the club he is nurturing towards the Premier League.
The financier, who made his money as a stockbroker, founding Hargreaves Lansdown with business partner Peter Hargreaves, has put a further £2.3million into the club.
According to documents registered with Companies House this week Lansdown has bought 1.15m worth of shares in Bristol City Holdings Limited, the parent company of Bristol City Football Club. Vice chairman Keith Dawe has also invested £200,000 for an increase in his share holding.
Steve Lansdown declined to comment on the specific use of the money. A Bristol City spokesman said: “Steve Lansdown and Keith Dawe have put money into the club regularly over the years and will continue to do so.”
The businessman, listed by the Sunday Times Rich List 2008 as the sixth richest person in the West of England with an estimated fortune of £338m, has always played down his role in financing the club.
Lansdown backed manager Gary Johnson in the close season with the purchase of the highly rated Maynard following the club’s Play-Off final defeat to Hull City in their first season back in the Championship.
City’s chairman, who took over the club in October 2002 and is now in his seventh season as Chairman, has revealed in Q&A sessions with fans that the club's wage bill has risen from £2.5m a year to £6m a year since promotion to the Championship.
And the businessman told the Fanancial Times in February this year the club's turnover for their first season back in the Championship would be about £8m - before the trip to Wembley.
The latest accounts filed at Companies House show the club made nearly a million pound loss in the year up to 31 May 2007 and the reports of their auditors Deloitte & Touche make it clear the club, like most others, runs on the financial promise of its board.
According to Ben Sulaiman of leading lawyers Lovells, the allotment of shares is one of two main ways for a football club to raise money. The other is debt, which in the current climate is expensive due to higher interest rates.
In August 2006 for example the Bristol City Supporters Trust bought 2,500 shares in Bristol City Holdings Limited for £5,000 which went towards improvements at the club's Abbots Leigh Training Ground.
The financier, who made his money as a stockbroker, founding Hargreaves Lansdown with business partner Peter Hargreaves, has put a further £2.3million into the club.
According to documents registered with Companies House this week Lansdown has bought 1.15m worth of shares in Bristol City Holdings Limited, the parent company of Bristol City Football Club. Vice chairman Keith Dawe has also invested £200,000 for an increase in his share holding.
Steve Lansdown declined to comment on the specific use of the money. A Bristol City spokesman said: “Steve Lansdown and Keith Dawe have put money into the club regularly over the years and will continue to do so.”
The businessman, listed by the Sunday Times Rich List 2008 as the sixth richest person in the West of England with an estimated fortune of £338m, has always played down his role in financing the club.
Lansdown backed manager Gary Johnson in the close season with the purchase of the highly rated Maynard following the club’s Play-Off final defeat to Hull City in their first season back in the Championship.
City’s chairman, who took over the club in October 2002 and is now in his seventh season as Chairman, has revealed in Q&A sessions with fans that the club's wage bill has risen from £2.5m a year to £6m a year since promotion to the Championship.
And the businessman told the Fanancial Times in February this year the club's turnover for their first season back in the Championship would be about £8m - before the trip to Wembley.
The latest accounts filed at Companies House show the club made nearly a million pound loss in the year up to 31 May 2007 and the reports of their auditors Deloitte & Touche make it clear the club, like most others, runs on the financial promise of its board.
According to Ben Sulaiman of leading lawyers Lovells, the allotment of shares is one of two main ways for a football club to raise money. The other is debt, which in the current climate is expensive due to higher interest rates.
In August 2006 for example the Bristol City Supporters Trust bought 2,500 shares in Bristol City Holdings Limited for £5,000 which went towards improvements at the club's Abbots Leigh Training Ground.
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