Birmingham have revealed the full extent of their financial plight in their yearly accounts, as they prepare for a significant points deduction.
As revealed by The Daily Telegraph in September, Birmingham are facing the prospect of being docked up to 12 points for breaking rules on spending.
Birmingham’s fight against punishment from the EFL will be heard next month and their accounts paint a grim picture of the situation, showing the Championship club lost £37.5million in the 12 months to the end of June 2018.
Their wage bill also rocketed up from £22m to £38m after backing managers Gianfranco Zola and Harry Redknapp, as the club narrowly avoided relegation to League One in the 2016/17 campaign.
There are also alarming figures for the club’s wage-to-turnover ratio, with Birmingham paying out a remarkable £202 in wages for every £100 they brought in.
Birmingham also owe around £73m to the parent company Birmingham Sports Holdings and have net liabilities of £55m.