Sunderland AFC Limited have revealed the financial fallout of the Covid-19 pandemic in the annual accounts for the year ending July, 31, 2020.
The Wearsiders made an overall loss of £2.622 million during the year, which reflects on the first wave of the coronavirus outbreak.
Sunderland's turnover was drastically hit following the end of parachute payments resulting in a turnover of £29.2 million, down from £58,693,000 the year prior.
The Black Cats made a loss of £5.8 million, prior to player sales where they accumulated a profit of £3,382,000 in player transfers, including the likes of George Honeyman to Hull City and aided by the sales of academy products Bali Mumba and Joe Hugill.
The club's overall wage bill, for all staff employed at the club, tumbled from £23,569,000 to £14,504,000.
Television and media revenue fell from £39,948,000 to £17,195,000 while gate receipts fell by almost £3 million, partially reflecting the loss of three home games as a result of the pandemic.
The club paid directors £515,962 - including a payment for compensation for loss of office amounting to £131,900.
The report also shows payment in relation to the Ricky Alvarez legal battle, equating to £4.77 million, with an added interest of £960,534.
Chief Operating Officer Steve Davison said: “Although Sunderland AFC was under a previous ownership group during the financial timeline detailed, the report begins to demonstrate the financial implications of the pandemic and its significant impact to all key revenue streams.
"Throughout the 2019-20 financial year we faced a period of rapidly-changing circumstances, but managed our costs effectively in order to navigate our way through this unprecedented time.
"Looking forward to next season, irrespective of our league status, our executive team has implemented strong foundations to achieve long-term and sustainable success.”
