Bristol City chairman Steve Lansdown issued an apology to the struggling League One club's shareholders and fans at their Annual General Meeting.
Despite replacing Brian Tinnion with Gary Johnson as manager, City have lost their last seven games and are just two points off the foot of the table.
"I take full responsibility for the League position and the financial state we are in," Lansdown said.
"As chairman, I can't hold my head up high and say I've done a good job."
He also defended the decision to split Bristol City Holdings Ltd into two separate companies - Bristol City Football Club and Ashton Gate Ltd.
"It makes it easier to see what the football club makes and what the stadium company makes, and makes it easier to budget for both," Lansdown said.
"Under the terms of the new agreement, the club has the right to remain here for as long as it wants to, and certainly for the next 106 years.
"But everything the football club generates must be put back into it. We need to get into a situation where the football club and the stadium company are, at the very worst, breaking even."
That sounds very dubious splitting the club effectively from ownership of the stadium and turning them into tenants.
More so the reason given. Surely if they want to know how much each entity makes then simply read through the accounts!
More fish than Grimsby, couldn’t happen to a nicer club. In the words of Galatsary Fans:
Bristol City Welcome To Hell. :twisted:
