Tony Bloom says Albion's long-term top-ten goal remains in place – despite the staggering cost of Covid-19.

The club have announced losses of £67.2 million for the 2019-20 season.

They had already expected their deficit to be up on the previous season’s £21.2 million due to investments in recruitment.

But the global pandemic which kept fans from stadia and halted the season for three months left them facing a shortfall around £25 million greater than anticipated.

Figures are skewed by the fact almost one-sixth of their 2019-20 TV income – or about £18 million - will figure in accounts for this season.

That is due to matches being played after June 30, which is the cut-off for football’s administrative year.

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Matchday revenue for the season fell by £5 million to £13.5 million after games were called off during lockdown and then eventually played with no fans.

Albion have resisted any temptation to make up the shortfall by selling key players and their prime aim remains to compete among the elite.

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Club chairman Bloom, who loaned the club a further £32 million, said: “Our main priority for the 2020-21 season is to remain in the Premier League.

“We will also be looking to make progress on our longer-term aim of establishing the club in the top ten of the Premier League, in line with the vision we outlined in the summer of 2019.”

Bloom paid tribute to staff, led by his deputy Paul Barber, in seeing the club through the pandemic and helping the community.

Developments at the training complex in Lancing, costing £25 million and including the hub for women’s and girls’ football, are expected to be complete by the start of next season.

Despite the financial challenges, Albion fully complied with financial fair play regulations.

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Turnover for the year was down to £132.9 million, against £148.2 million in 2018-19. 

In his report to shareholders, Bloom wrote: “We have a great team of people all around the club and great support from our fans, from our commercial partners and from the wider community.

“Despite the global pandemic, our goal is unchanged.

“This will, I hope, continue to guide and inspire our club to even greater achievements.”