Albion fans have been told they should not be concerned by their club’s £21.2 million loss on last season.

Transfer fees, wages and the cost of a managerial change are key reasons behind the turnaround from their first Premier League campaign.

The Seagulls posted a £11.3 million profit in 2017-18.

Chairman Tony Bloom wants to turn Albion into a top-ten club – and top-four in the women’s game.

Football finance expert Kieran Maguire said: “These figures dispel the myth that the Premier League is paved with gold.

“Only seven clubs reported a profit in 2017-18 and they included the Albion.

“Normally you get that benefit in the first year of a huge rise in income.

“Then, in the second year, costs catch up.  You have had two years of signing players on Premier League wages.

“The figures should not be concerning but they again underline the commitment of Tony Bloom.”

Turnover remained similar to the debut Prem season at £143.4million last term against £139.4 million in 2017-18.

Albion paid compensation both to Chris Hughton and to Graham Potter’s previous club Swansea City as they changed bosses at the end of last season.

Football costs, which is mainly wages for the playing and coaching staff, went up more than £20 million to £108 million.

In his report, Bloom praised the “exceptional” job done by Hughton as boss.

He highlighted the club’s annual £212 million contribution to the local economy and the fact they are responsible, directly or indirectly, for 2,200 jobs, Bloom added: “The last couple of years have been about stabilising, ensuring our survival, and doing everything we can to stay in the Premier League.

“Our new vision - to be a top-ten club in the Premier League, and a top-four club in the Women’s Super League - is designed to set our sights higher than just survival in the top leagues (however important this is).

“We have not put a timescale on it, and we are under no illusions this is a tough goal we are setting ourselves, but we are up for the fight.”