Fulham’s recent spending includes work on the new Riverside Stand at Craven Cottage
(Picture: Getty Images)Fulham’s losses for the latest financial year more than doubled to £93million.
The club made a loss of £45.2m for the year ending June 2020 and their financial woes have worsened since.
Accounts for the year ending June 2021, which were published this week, show Fulham made a loss of £93m despite being in the Premier League.
The club, like many others, have had their finances hit hard by the Covid-19 pandemic, while they have also heavily invested in the redevelopment of the Riverside Stand at Craven Cottage.
The latest accounts show how Fulham spent nearly £60m on infrastructure projects last year alone.
To fund the losses and stadium work, Fulham borrowed £151m from owner Shahid Khan last year. A further £93m has been borrowed since this season began.
The accounts state: “The Company and Group meet their day to day working capital requirements from shareholder loans that are subsequently converted into equity.
“During the year ended 30 June 2021, amounts due to shareholders of £151,000,000 were converted to equity.
“Subsequent to 30 June 2021, the Group and Company has received further financial support amounting to £93,000,000 from its ultimate owner and immediate parent company, Mr S R Khan and K2TR Family Holdings 2, Corporation.”
