Burnley record loss for year to June 2016

Burnley have recorded a net loss of £3.7m for the year ending June 2016.

The club have out this loss down to funding their Championship promotion campaign.

Burnley were promoted to the Premier League in May 2016 after being relegated the season before. Promotion to the Premier League cost the club £11.3m in bonuses to players and staff.

During their season outside the Premier League, turnover fell from £79m to £40m.

"We managed to strike a balance between risk and reward," said chairman Mike Garlick. "We are in a stronger position to be more competitive this time in the Premier League."

He added "We have a clean slate and aim to give manager Sean Dyche and his team the best possible chance of consolidating our place in the world's most competitive and exciting league."

JC