Blackburn report £16.8m loss for League One promotion season
Thursday 21 March 2019 12:11, UK
Blackburn Rovers reported a pre-tax loss of £16.8m for their promotion-winning season from League One in 2017/18.
The Lancashire club reported a loss of £3.8m the previous year and net liabilities have risen from £109m to £125m in that time.
Despite reducing the wage bill by £5.2m, turnover fell by £5.9m to £9m, with 186 per cent of that spent on wages.
Blackburn's Indian owners, Venky's, are now owed £108m in loans, having injected another £14m into the club in 2017/18.
Despite enjoying a positive season on the pitch and winning an instant return to the Championship following relegation in 2017, the finances paint a gloomier picture.
Matchday income, media income and commercial income all fell, while operating expenses increased by £3m to £8.9m.
Blackburn are 17th in the Championship, 11 points clear of the relegation zone with eight games remaining.
