Blues announce loss
Birmingham have announced an operating loss of 4.358million for the year ended August 31, 2006.
City's turnover dropped to 40.1million from 42.7million when they received a smaller merit award than they had in the previous year after being relegated from the Barclays Premiership.
The Blues' board are braced for a reduction in turnover of around 50% in the next set of annual figures to reflect the drop in earnings in the Coca-Cola Championship but have spent heavily on players by the standards of the second tier in a bid to win promotion to the top flight at the first attempt.
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