Dundee United have posted a loss of more than £3.7 million but American owner Mark Ogren has allayed any fears by vowing to continue his financial backing.
Club shareholders have been told in the annual accounts that the club lost £3,759,200 compared to £218,993 the previous year, although that was cushioned by £1.4 million of sell-on fees.
Salary costs have also rocketed to £4,159,060, which adds up to 133 per cent of an annual turnover of £3,124,236.
Ogren has heavily backed manager Robbie Neilson and a total restructuring of the club has seen wages increase by 39 per cent to £1.13m.
"The significant loss emphasises the level of financial investment made by Mark Ogren to the club," said a Dundee United board statement in advance of Tuesday's AGM.
"[It also] includes the costs associated with undertaking the restructuring that was required, including a complete overhaul of the first-team playing squad and coaching staff, and restructuring the academy."
United missed out in the play-off final and have since spent heavily again to win promotion and currently sit top of the Championship .
"The performance of the team in recent years has led to the company making significant financial losses, which have required substantial investment to maintain the company as a going concern," the club statement added.
"The principal risk to the business is therefore the possibility of the team remaining in the Championship for a prolonged period of time.
"The new owners are committed to providing the required funding to the club to maintain it as a going concern in the Championship, and also to provide the platform to enhance the team's prospects of promotion to the Premiership ."
