Cash-strapped Sunderland's net debt fell by £23million despite recording a loss after tax of £33million during the last financial year, the club's latest annual accounts have revealed.
The Black Cats, who pulled off yet another Premier League great escape at the end of last season, made a small operating profit of £1.5million and reduced their debt burden from £133.2million to £110.4million during the year to July 31, 2016.
However, the figures do not include player amortisation and trading costs of £38.3million, which were incurred during the last summer transfer window.
