Dons report losses of nearly £2mil in 2020
Promotion and lockdown cost Dons in the last financial year
MK Dons reported a loss of £1.8 million last year according to their latest accounts, increasing the club’s net liability position to £13.8 million.
The accounts, which report the club's financial performance to June 30 2020, showed Dons incurred a total comprehensive loss of £1,836,606 - up nearly £400,000 on the previous year (2019).
However, the club reported increased turnover, rising from £4.2m in 2019 to £4.6m in 2020.
The final three months of the year were disrupted by the outbreak of coronavirus, but also covered Dons' return to League One which incurred an increase in expenditure on players' wages.
Dons, as a club, is owned by Stadium MK Group Limited, who reported a loss of ££7,341,949 for the year.
"The 2019/20 financial year was particularly challenging for the club as a result of the Covid-19 pandemic which suspended all football and ultimately led to the curtailment of the season," wrote chairman Pete Winkelman in his report.
"This clearly had a profound impact on revenue generated from season ticket and matchday revenue, as well as commercial related revenue, albeit offset in part by maximising the use of the government's job retention scheme.
"Despite this, the company generated turnover of £4.6m compared to £4.2m in 2019, due to increases in receipts from the EFL. As with all football clubs, the challenge is to control player wages while remaining competitive.
"The company is and will continue to be supported by Stadium MK Group Limited, which is diversifying and generating future income from a hotel and from commercial property development."