Brighton recorded losses of £53.4million for the 2020-21 season it has been revealed.
The Premier League club played all but three of their competitive home games behind closed doors during the campaign due to the coronavirus pandemic.
Albion’s accounts show a £13.8m reduction in losses from the £67.2m deficit of the previous season.
Turnover increased from £132.9m to £151.6m when compared to 2019-20, a rise of 13.4 per cent, while the figures do not include the transfer of Ben White to Arsenal, which was worth a reported £50m but concluded after the end date for these accounts.
Brighton chief executive Paul Barber said “roughly half” of the losses could be directly attributed to the global pandemic.
“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,” he told the club website.
“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 (chairman) Tony Bloom’s financial investment gives the club.
“Our matchday, 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.”
Brighton, who were promoted in 2017, finished 16th in the top flight last season, 13 points clear of the relegation zone.
Graham Potter’s Seagulls are currently 13th this term on the back of six successive league defeats ahead of hosting bottom club Norwich on Saturday.