Burnley FC made a profit in the year they were relegated from the Premier League thanks to selling players, the club's delayed accounts show.
The Turf Moor club, who recently won promotion back to the top flight, have been under a transfer embargo since March after submitting their accounts late.
According to the documents filed with Companies House, Burnley posted a profit of £36m for the 12 months to July 31, 2022, compared to a loss of £2.9m in the prior year. Without selling players, the club would have made a £19m loss.
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Their turnover also increased from £115.1m to £123.4m over the same period. The rise in income has been attributed mainly to fans returning to Turf Moor following the lifting of Covid-19 restrictions.
Match day income jumped from £355,000 to £7m while catering sales went from £115,000 to £1.7m. Wages increased in the year from £85.9m to £91.9m.
Retail sales also increased from £1.5m to £2m and money from television rights went up slightly from £103.8m to £104.8m. However income from other commercial activities decreased from £9.1m to £7.7m.
The number of permanent staff employed by the club rose from 167 to 273 while temporary employees who worked on match days jumped from five to 185.
A statement signed off by the board said: "Turnover increased [by] £8.3m, or 7.2%, on the strength of resumed ticket sales and hospitality revenues from the restoration of fans in the seats.
"The group reported its 8th consecutive year of positive operating profit excluding player trading, generating £11.2m for the year.
"In anticipation of lower turnover next season due to relegation, the group sold several player registrations, generating a £54.7m profit.
"The group used a portion of these proceeds to pay down £20m of debt with the remainder available for deployment to squad investment and funding operations in the Championship.
"Out statement of financial position reflects net assets of £104.9m, among the highest levels in group history."
The accounts come after an NFL legend and his soccer star wife invested in the club.
JJ and Kealia Watt have taken an undisclosed stake in the Turf Moor side which recently won promotion back to the Premier League after one season in the Championship.
Burnley FC have been majority owned by management firm ALK Capital since towards the end of 2020.
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