Middlesbrough FC announce rise in income in latest financial report with owners to continue to support club for the 'foreseeable future'

The deficit is down from a huge fall of £30.8m in the previous financial year with the club's finances taking a significant hit due to the Covid-19 pandemic.

With fans back in stadiums for the 2021-22 campaign, gate receipts rose to £6.4m from just £36,000 in the previous set of figures which covered the 2020-21 season when games were played out in empty stadiums.

Boro's run to the quarter-finals of the FA Cup last term, when they bowed out to Chelsea after beating Premier League big guns Manchester United and Tottenham Hotspur in the fourth and fifth rounds, helped the club pocket around £3m from cup competitions.

Income from commercial and sponsorship deals was up to £6.5m, compared to £4 million earned over the previous year.

The club's turnover increased to £26.9m, up from £14.5m in the previous financial year.

Wages increased from £27m to just under £28.5m due to an increase in the number of playing and non-playing staff at the club.

The club made a £1.4m profit on transfer deals over the year, the figures revealed.

The importance of the ongoing financial support from owner Steve Gibson was again cited in the report..

It read “The going concern basis of the company depends on the support from the Gibson O’Neill Company Limited, the ultimate parent undertaking, who will continue to provide that support, if required, to the company for the foreseeable future."