Bristol City's annual accounts are now available online, showing a trading loss of £9.2m on the year ending May 31st 2014.
This was a significant reduction of 20 per cent (£11.5m) compared to the prior year.
Sales for the year were £3.9m down as a result of relegation from the Sky Bet Championship to League One.
The main component of this reduction was League distributions, which were down £3m on the prior year.
Alongside this 38 per cent drop in sales was a reduction in operating costs of 29 per cent, including a salary reduction of £5.5m. [You must be registered and logged in to see this link.]