Aston Villa have filed accounts with company house showing heavy losses of £27.3m, a stark increase on the previous years accounts which saw a £3.9m loss in the year previous.
The detailed report can be found here, and the Express and Star have reported that the report comes from June 2014 to May 2015.
The report comes as a shock to many, who thought that Randy Lerner’s cost cutting plan was starting to work, in a bid to help create a more sustainable model at the club.
Despite a 7% increase in revenue, administrative costs sky rocketed by over £60m over the course of the year as well as staff costs, rising by just over £3m. Despite these high costs, gate receipts, sponsorships and commercial revenue increased, while a small decrease was seen in revenue brought in from broadcasting.
These figures are a scary sight for many Villa fans, especially with Aston Villa looking down the barrel of a relegation. It seems that Villa’s accounts could be in for another hit.
