Sunderland more than doubled their turnover but still posted a net operating loss of £5.1m in their promotion season from League One, according to the club's latest set of accounts. The accounts, which cover the 12-month period to the end of July 2022, show the Black Cats' turnover was £26.1m - an increase of £15.4m over the previous year, when Covid restrictions meant all-but one game was played behind closed doors.
The increase also reflects the resumption of conference and banqueting income following the Covid pandemic, and the return of concerts to the Stadium of Light. That increase in turnover was partly offset by an increase in operating expenses of £9.5m.
The net operating loss of £5.1m was down from a loss of £8.4m the previous year. Wages increased from £12.8m to £16.3m, with player salaries accounting for 34.6 percent of revenue in 2021-22 as opposed to 68.4 percent the season before.
