Brighton and Hove Albion have cut their financial losses in the football club’s latest annual accounts despite the significant costs associated with the coronavirus pandemic.
The club said: “The accounts show a reduction in the losses against the previous season, despite the figures once again being severely affected by the pandemic.
“(It) meant only three competitive home fixtures were played with extremely limited numbers of supporters in the stadium.
“Turnover for the period was up by 13.4 per cent to £151.6 million, against £132.9 million in 2019-20 – and losses reduced to £53.4 million from £67.2 million.
“The figures do not include the transfer of Ben White to Arsenal, which was concluded after Wednesday 30 June, the end date for these accounts.”
The accounts for the 2020-21 season report Albion’s financial performance for their fourth season in the Premier League which was played almost entirely behind closed doors because of the covid-19 pandemic.
Deputy chairman and chief executive Paul Barber said: “While we are once again reporting a loss, which is never ideal, we have seen an increase in turnover and reduction in the losses despite the pandemic impacting the entire season.
“The figures are testament to the careful, diligent and professional approach of so many across the club, who adapted to the global situation, and to the stability that Tony Bloom’s financial investment gives the club.
“Our match-day, commercial and event turnover was all but wiped out for the entire season and we incurred various additional costs for providing a covid-secure environment for players, officials, staff and fans.
“Inevitably, these factors combined to have a significant bearing on our results and roughly half of our total loss can be attributed directly to the coronavirus pandemic.
“Thankfully, we have now emerged from that uncertain period and we hope we can move forward with more certainty.
“As ever we are greatly indebted to Tony and his family for a further increase in an already very significant investment in Brighton and Hove Albion.
“He provides a level of stability rarely enjoyed by other clubs and this has enabled us to continually grow and progress under his chairmanship and ownership.
“On behalf of everyone connected to the club, but especially the board, our staff and all of our supporters, I would like to once again place on record our thanks and appreciation to Tony for his incredible and ongoing financial commitment to the club.”
Despite the tough landscape, Albion said that the accounts showed that the club fully complied with Premier League Profitability and Sustainability (Financial Fair Play) regulations for the period.
The club added that it had once again taken the step of making the annual accounts – including an annual statement from chairman Tony Bloom – publicly available to all supporters.