Sheffield Wednesday latest accounts reveal £23m loss

SHEFFIELD WEDNESDAY'S latest accounts for 2019-20 has shown that the club lost £23m in the last financial year ending July 31, 2020 - following player sales.

Hillsborough. Picture: PA.

The latest deficit has taken the Owls' accumulated losses to £99m, figures have revealed.

The accounts also revealed that the club's wage bill fell by almost £3m to just over £33.5m from a previous figure of £36.3m, with a significant drop in player wages likely to arrive in the next two sets of accounts when the departures of the past two summers are factored in.

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Turnover fell from £22.76m to £20.86m - a fall of £1.9m - chiefly due to the fact that five home games last season were played behind closed doors.

The club showed a profit on the disposal of players/employees of £6.2m.

The overall figures follow a profit of £19.1m in the club's accounts for the year ending July 31, 2019 when the club included the controversial sale and leaseback of Hillsborough in those particular accounts.

The club remain in talks with the English Football League over the lifting of the club's transfer embargo which is currently in place and they remain hopeful that the ban will be removed later this week.

Former Everton midfielder Dennis Adeniran has been targeted by head coach Darren Moore who is running the rule over former Chelsea defender Renedi Masampu on trial.