Premier League leaders Manchester City blamed a £126 million ($175 million) net loss last season on a series of factors caused by the coronavirus pandemic.
City’s revenue for the year to the end of June 2020 fell 11 percent to £478.4 million, with the Premier League and Champions League finishing after the accounting period.
Delayed income from the postponed fixtures, including broadcast earnings, and player sales will show up in next year’s figures.
“Clearly, the 2019/20 accounts in isolation are not the best representation of the reality of the season with delayed player trading and numerous games being played after 30th June 2020, the revenues from which will be accounted in the 2020/21 period,” said City CEO Ferran Soriano.