Brisbane Broncos officials have reported an expected loss of $470,000 for last financial year, as sales dwindled from crowd restrictions and poor on-field performances.
Management of the National Rugby League club on Friday said the before-tax estimate for the 12 months to December 31 followed a before-tax profit of $3.36 million in 2019.
Coronavirus restrictions on spectators led to declines in sponsorship, ticket and merchandise sales.
The team also struggled on the field. Coach Anthony Seibold was sacked and the side finished last for the first time in club history.
For the 2021 season, the Broncos will be allowed capacity crowds for home games under current Queensland government orders.
The club this week named former Melbourne Storm boss David Donaghy as chief executive.
He will replace Paul White, who has been at the helm for 10 years.
Shares were steady at 43 cents at 1353 AEDT on Friday.
