The pre-tax loss of £71.1m, which was an increase of almost £52m on the previous 12 months, is the inescapable headline in a financial report that shows the club’s revenues also increased to £186.5m from the £105.3m generated the previous year.
Money brought in from broadcasters more than doubled to £117.4m, there was a £15.8m rise in sponsorship income and gate receipts totalled £20.3m, up from £18.4m.
Leicester brought in only £10m in player transfers in 2024-25, from the sale of Tom Cannon to Sheffield United, which was a huge decrease on what they generated in 2023-24.
A number of lucrative player sales, which included the departure of Kiernan Dewsbury-Hall to Chelsea for £30m, as well as the £10m compensation the club received when manager Enzo Maresca was also recruited by the London club, helped generate £93m in 2023-24.
At the same time, Leicester’s wages jumped up by almost £46m on their return to the Premier League. Although, as a percentage, that made up 82% of their revenue in 2024-25 when compared to 102% in 2023-24.
In the 2022-23 season in the Premier League before that, their wage bill of £205.8m represented 116% of what they generated.
“These accounts reflect the reality of returning to the Premier League,” CEO Davies said.
“Our revenues increased significantly during the year but so too did the costs of trying to compete at that level and the loss we are reporting is a substantial one.”
The contract clauses that have allowed Leicester to reduce their salary costs after relegation are also believed to be in place if the Foxes go on to be relegated to League One this season.