Preston North End make loss of £16.8m for 2021-22, up from £15.4m the previous year

Ryan Lowe took over at Preston North End after Frankie McAvoy's sacking in December 2021

Preston North End made a loss after tax of £16.8m for the year 2021-22, up from a £15.4m loss from the previous financial year.

The increase was due to payments to an ex manager as well as players at the end of their contracts, the club said.

In addition, the club owed compensation to Plymouth Argyle after recruiting manager Ryan Lowe in December 2021.

Club owner Trevor Hemmings also died during the 2021-22 season, with son Craig Hemmings taking over as chairman.

"The season 2021-22 was a difficult one for a number of reasons," Hemmings said.

"It was the first full season back with crowds into Deepdale following all of the Covid-19 restrictions, and, as was felt across the whole of the football pyramid, we experienced the nervousness of some fans returning to stadiums.

"In the first half of the season we changed managers, as results on the pitch were just not good enough. And most significantly, it was the season we lost our owner, my father, Trevor Hemmings CVO. We all at the club hope to further his legacy."

During the 2021-22 financial year, the club's owners invested £14.9m into the Lilywhites "to cover the annual cash shortfall in running the club."

Turnover rose during the year to £13.8m, up 16% from £11.9m the previous year, with 7,557 season tickets sold in the first full year of crowds after coronavirus restrictions ended.

"Since the year end, some good progress has been made by the club in reducing the annual cash deficit to the owners," club director Peter Ridsdale said.

"With the aid of incredible fan engagement and support, we had one of the best ever season ticket campaigns, with close to 12,000 season tickets being sold to fans of PNE. The most sold for over 60 years."