At the end of February, the Brentford Independent Association of Supporters (BIAS) wrote similar letters to Greg Dyke, chairman of the football club and David Merritt, chairman of Bees United and a director of the football club. Both letters posed “questions that BIAS feels need answering”.
“For the sake of transparency, BIAS is calling on the boards of Bees United and of Brentford Football Club to enter into open communication with supporters on the current and future financial security of our club,” BIAS said.
Greg Dyke and David Merritt have now answered those questions in a joint letter to BIAS. In it they say amongst other things: “Both boards have some confidence that the discussions in progress will enable Brentford Football Club to continue to operate both this season and next.” Their reply is published in full below.
Dear Richard,
Further to your recent questions to both BFC and BU, we have discussed and settled on a joint response. We would be happy to provide you with the opportunity to attend for part of the next BFC Board meeting when we can discuss this, and any other relevant items, face-to-face. As always, the BU Board are also available for a meeting if you feel it desirable.
Your specific questions touch on many commercially sensitive areas, and so rather than providing a series of answers with the same "commercial and confidential" response, our comments are as follows.
You are right to highlight that the financial performance of the Club over recent years has involved substantial losses, and a corresponding increase in debt. This is clearly not sustainable in the long term, and the boards of both BFC and BU are working hard on resolving this issue. In the current economic climate, and with the current state of football, we cannot see a situation in the short term where we can financially break even and maintain a satisfactory degree of footballing success.
As long as the Club remains loss-making, refinancing of existing debt and arrangement of new financing is a priority for both boards. Without a dramatic influx of new money there will be constant pressures on our cashflow. However, this is no different than for most other companies, and both boards have some confidence that the discussions in progress will enable Brentford Football Club to continue to operate both this season and next. The exact details of those discussions remain commercial-in-confidence for obvious reasons, but will be communicated to supporters as and when it is appropriate to do so.
We are sure you will appreciate that it is difficult to forecast meaningfully beyond the end of next season, but be reassured that both Boards are working on short and longer term solutions to the financial situation facing the Club. Lionel Road remains a great opportunity to transform the Club, and we still foresee a new stadium having a significant and positive impact on our finances.
Finally, we congratulate BIAS on your recent initiative in targeting local town centres before home matches to encourage people who do not normally attend to come to the games. It is an excellent initiative, and we are pleased both for the Club to support it, and with the success it has already shown.
Yours sincerely,
Greg Dyke
Chairman, Brentford FC
David Merritt
Chairman, Bees United
Director, Brentford FC