BLACKBURN Rovers' wage bill hit a record £29.7 million last season after the club returned triumphant to the Premiership.

The bill for the club's senior players increased by 18 per cent due to renegotiated contracts and new signings such as Andy Cole.

But according to chief executive John Williams, the club's 10th place finish in the league matched its position in the table of top-paying clubs.

"Our wage bill was around the 10th highest in the Premier League," he said. "I have long professed the view that success on the field is broadly in line with your wage bill. Generally speaking, you get what you pay for."

Mr Williams said the club spent 77 per cent of its income on salaries last year, a figure the club was aiming to reduce to 66 per cent. "Wage ratio to turnover is too high and we strive to reduce this percentage over the medium term," he said.

"The aim is to do this without threatening our Premier League status."

Mr Williams said the club's £24,000 operating profit represented a breakthrough for the club. "The break-even trading situation marks an important step in the quest for self-sufficiency," he said.

Rovers' annual report shows that income from TV and radio rose from £6.1 million to £14.5 million, mainly from SKY. The 10th place finish was worth £4.9 million and the club received a further £1.7 million from the League.

Sponsorship and advertising went up to £2.5 million and merchandising and matchday programmes contributed £1.34 million.

Gate receipts grew by 58 per cent to £7.3 million with the club's Worthington Cup run worth £1 million alone.