Leicester City have announced a £33.1 million pre-tax loss in their 2020-21 financial results. The club reported that £36.1 million was lost due to the effects of COVID-19. Last year, they suffered losses of £67.3 million. However, they did increase their revenue from £150 million to £226.2 million, citing on-field success as a major reason behind the rise. A Leicester City statement said: “2020-21 was a period largely without precedent in that it included the conclusion of two Premier League seasons – the overwhelming majority of which took place behind closed doors – and accounted for costs (including those related to COVID-19) and revenue associated to both. “Outstanding on-pitch performance during the period saw the club’s men’s team secure fifth place in each of those seasons (jointly, the club’s second-best ever Premier League finishes), ongoing participation in the UEFA Europa League and a first FA Cup in its 138-year history – all of which contributed to notable growth in revenue.“The club posted a pre-tax loss of £33.1 million for the year ending 31 May, 2021 (£67.3 million in 2020), which includes a loss of £36.1 million directly attributable to the COVID-19 pandemic.”Chief executive Susan Whelan added: “A second season in the grip of the pandemic, played almost entirely without supporters, presented a great number of challenges. “That we were able to turn that into one of the most successful seasons in the club’s history – across our teams – is testament to the diligence and skill of our personnel, the unending support of our fans and the performances of our team on the pitch.”Leicester are currently 11th in the Premier League. They play Danish side Randers tonight in the first knockout round of the Europa Conference League. (Photo: Joe Prior/Visionhaus via Getty Images)
