THE incredible ongoing support of owner Steve Gibson has once again been laid bare with the release of Middlesbrough's accounts covering last season.

Turnover rose from £26.9m to £28.6m and although the club made a £6.7m loss, this was down from £19.4m the year previous.

Boro's operating losses were offset by £22.3m brought in through player sales, which covers the period in which Marcus Tavernier and Djed Spence left for Bournemouth and Tottenham respectively.

Analysing the accounts on X, football finance expert Kieran Maguire wrote: "MFC did have huge liabilities of £190 million at 30 June 2023 but owner Steve Gibson then wrote off £148m owed to him. Fans criticising Gibson should give their heads a wobble as he’s also put in £90m via shares."

The accounts state that the club will "continue to make as much income as possible available to invest in the football team" and "will continue to strive for progression and promotion to the Premier League".

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The accounts cover the 2022/23 season, in which Boro recovered from a slow start under previous boss Chis Wilder before charging into promotion contention after the appointment of Michael Carrick.

Boro eventually finished fourth before losing in the play-offs to Coventry City.

Boro's wage bill, which exceeds income, rose slightly to £29.6m and Boro spent £12m on new signings. The number of playing staff fell from 81 to 77 but the overall head count rose slightly from 225 to 228.

The main source of income was broadcasting at £9.5m, followed by gate receipts of £8.8m, up from £6.4m the year before. Sponsorship and commercial also brought in £7.8m. Boro, interestingly, also received £2.7m from a legal settlement.

The accounts say: "The biggest risk to the club is failing to perform competitively in the league in which it competes. This is managed by developing and recruiting a first team squad suited to the relevant league and employing a management team and support team with the requisite knowledge and experience.

"The company continuously reviews the level of fixed costs incurred with a view to restricting unnecessary expense and matching costs to revenue streams to ensure the club operates within financial regulations governed by the English Football League.

"The principal risk in this area at the moment is the impact that rising costs has on operating costs and the discretionary spend available to supporters.

"The club continues to compete in the EFL Championship in the 2023/24 season. It will continue to keep control of operating costs and make as much income as possible available to invest in the football team.

"The club will continue to strive for progression and promotion to the Premier League."