Brighton & Hove Albion recorded losses of 67.2 million pounds ($92.27 million) for the 2019-20 season after their finances took a hit during the COVID-19 pandemic, the Premier League club said.
Turnover fell to 132.9 million pounds from 148.2 million pounds in 2018-19, while losses more than tripled from 21.2 million pounds in the previous campaign.
“There was a shortfall in commercial revenues, catering and merchandise income, plus a number of additional and unexpected costs during the lockdown and return-to-play periods,” Brighton said in a statement.
Chairman Tony Bloom said the season was one of the most challenging in the club’s history.
“We have worked very hard to minimise the impact of COVID. Naturally, we have been cautious and careful, but we’ve had to be inventive too,” he said.
“… Our main priority for the 2020-21 season is to remain in the Premier League. We will also be looking to make progress on our longer-term aim of establishing the club in the top 10 of the Premier League.”
Brighton, who are 17th, host Fulham later on Wednesday.