Cardiff have announced annual losses of £12million to take the club's total debt to £174million.
The club's latest figures, lodged with Companies House, cover the year ending May 2014 which saw Cardiff relegated from the Barclays Premier League after only one season.
Revenue in the top flight increased to £79.9million - courtesy mainly to £63.9million of broadcast payments - but the accounts show £45million was spent on transfers and £46.7million on wages.
Owner Vincent Tan's loans increased to £130million and Cardiff's debts dwarf the value of its stadium, players and other assets - with the club's net deficit up from £69.3million to £81million.
"Following relegation from the Barclays Premier League the owners are aware that they needed to again invest in strengthening the playing squad, but that they needed to spend wisely," the Sky Bet Championship club said in the report.
"Whilst long-term funding is not guaranteed, the Malaysian investors have indicated that providing the business develops as planned, they will continue to support the company in the foreseeable future and provide additional finances in order that it can settle its liabilities."
Malaysian businessman Tan has previously said he will convert the club's debt into equity.