Sunderland reveal massive losses

Sunderland today revealed they have an ongoing debt of £36m (€53m) and incurred losses of almost £21m (€31m) for the financial year just ended.

Announcing the results for the 12 months up to July 31, Sunderland plc chairman Bryan Sanderson noted the impact of relegation from the Barclaycard Premiership and the steps which have had to be taken to avoid further debilitating losses.