Many fans will see a £33.9m loss in a single financial year and be alarmed after all the talk about having to keep losses under £39m over a three-year period as part of the EFL's profit and sustainability rules.
It is absolutely an eye-watering amount. However, there is more to that figure than meets said watery eye.
Anything spent on infrastructure and areas of the club such as the Academy or Women's team doesn't have to be included, so the actual losses are significantly lower. In the accounting world, they would be considered 'add-backs'.