Burnley FC made a loss of £4.3 million for their latest financial year.
Chairman Barry Kilby, in his annual report to shareholders, says early exits from the Carling Cup and FA Cup hit the club hard finacially.
And the Clarets also splashed out £1.5 million for Ade Akinbiyi, as well as bringing Steven Caldwell and Joey Gudjonsson to Turf Moor.
The loss was £1 million more than in the corresponding 12 months up until the end of June 2006.
And it could have been a bigger loss but for the sale of £3 million of shares, mainly to Operations Director Brendan Flood, and additional loans from the club's directors.
The total wage bill grew to £7.1 million, a rise of £750,000.
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