The figures show losses increased against the previous season, and turnover was also down, as the club's accounts were clearly affected by the global pandemic which arose during the second half of the season.
Turnover for the period was down to £132.9m, against £148.2m in 2018/19 – and there was an increase in losses to £67.2m from £21.2m.
The club had budgeted for an increase in losses, due to additional investments in recruitment, with increases in player wages and amortisation (transfer fees). The budgeted losses were significantly increased by the unexpected drop in turnover, due to the coronavirus pandemic.
There was a shortfall in commercial revenues, caused by the impact on television monies and gate receipts – with the club playing five home games behind closed doors – as well as additional shortfalls in catering and merchandise income, plus a number of additional and unexpected costs during the lockdown and return-to-play periods.
Despite the tough landscape, the accounts show that the club fully complied with Premier League Profitability and Sustainability (Financial Fair Play) regulations for the period.
The club has once again taken the step of making the annual accounts – including an annual statement from chairman Tony Bloom – publicly available to all supporters.