Middlesbrough reveal huge losses after latest club accounts are revealed

Middlesbrough have revealed £30m losses in their latest club accounts for the 19/20 season. 

Middlesbrough have revealed their latest set of accounts for the 20/21 season, with the club losing £30m with income being significantly impacted by Covid-19.

The results come a year after the club revealed record losses of over £25m in the 19/20 season following the start of the Covid pandemic and the end of the parachute payments.

The pre-tax loss was £30.8m, with the club reporting that it has been forced to cut numbers of both playing and non-playing staff to cope with the drop in income.

However, the wage bill remained at £26.9m, well above the £14.5m income, despite a drop from £30.9m a year earlier.

Gate receipts for the year tumbled to just £36,000 from £4.4m as games were played behind closed doors due to Covid restrictions.

Speaking of the results, club officials said: “Government restrictions imposed on football stadia to tackle social distancing concerns have significantly hampered the company’s ability to generate income in its usual manner, both from a matchday and non-matchday perspective.

“The company has been forced to significantly reduce the size and cost of the playing squad to reduce its cost base to partially offset the reduction in income.”

The Verdict

It doesn’t make for easy reading for Boro fans given the huge losses last year. However, there has been a change in recruitment philosophy which should safeguard the club in the coming years after reckless spending following their Premier League relegation.

In addition, Steve Gibson has always been a generous benefactor and Chairman of the club and will maintain it’s best interests at heart.

However, given the huge losses mounting up in the Championship, as