Bradford City relaxed after announcing deficit in 2023-24 accounts

The £997,000 deficit was largely put down to an increase in costs, including player wages, and a "modest decrease against budget" in ticket sales, with average attendances down slightly to 17,547 – but still comfortably the biggest in a division which last season featured heavyweights Wrexham.

A first-team wage bill of £4.1m failed to produce promotion, or even qualification for the play-offs, which helped to boost the previous campaign's figures, as a late-season run left the Bantams just short of a top-seven finish.

But with seven games to go, Graham Alexander's side are well placed for an automatic promotion 12 months on which would change their financial landscape next season. The Bantams are a point behind leaders Walsall, and have a four-point cushion to the play-off places, but with a game in hand for fourth-placed Doncaster Rovers.

A report by club director and chartered accountant Alan Biggin cast the figures in a fairly positive light.

"Although no business wishes to generate losses it is unlikely our football club could fulfil its aspirations without some contribution to these losses through additional finance or capital introductions," he wrote.

Revenue was up one per cent from last year's record for the club when in the third and fourth tiers to £8.6m. The difference came from an extra £163,000 in transfer income from player sales, loans, sell-on clauses and appearance fees.

Commercial activities brought in over £1.1m, whilst operating costs were £3.4m.

Money distributed by the Football League contributed £694,000, and a further £519,000 came in solidarity payments from the Premier League. Both amounts are the subject of wrangling between the two leagues around the Government's plan to introduce an independent regulator, which may have to make the final decision to resolve the impasse.

This season has brought a new Football League broadcast deal which will see a big uplift in TV revenue.

Meanwhile, the club has launched another campaign to build on the success of the club-record crowd for the last home match, against Colchester United.

The club is planning a three-stand "tifo display", and handing out over 20,000 claret-and-amber-coloured cards to create a mosaic when the players emerge from the tunnel for the April 5 League Two game against Crewe Alexandra. There are also plans for more than 400 flags in the lower Kop.

Discounts of up to 60 per cent are on offer for tickets bought in advance.

The 23,381 crowd against Colchester was the biggest for a competitive game since Valley Parade was redeveloped after the 1985 fire. Bradford beat their in-form opponents 4-1 that day.