Rovers posted losses of £16.8m for the year to June 2018, their latest accounts show.

That is a rise of £13m from the 2016/17 accounts, as Rovers counted the cost of relegation to League One.

Current net liabilities are close to £125m, while the accounts state that “the amounts due to the parent company” are £108.726m, up from £94.8m.

However, it adds: “the parent company has confirmed that as in previous years it will provide sufficient financing to support the company” and “the amounts owed to the parent undertaking above are interest free with no fixed date for repayment.”

The wage to turnover ratio stood at an eye-watering 187 per cent, a rise from 147 per cent the previous year.

The figures meant Rovers lost £336,000 a week during their season in League One.

Key reasons behind the increased losses was a drop in turnover, down by almost £6m to £9m. Profit on player sales also dropped from £9m to £330,000.

Player sales were down to £1.1m compared with £11.9m the previous year. 

Rovers shaved more than £5m off the wage bill, largely down to clauses within the players’ contracts which saw them took a reduction post-relegation. The number of playing staff and management was consistent, down from 71 to 70, though overall staff numbers were down by 16, largely coming within the Academy.

The wage bill was reduced overall from £21.9m to £16.7m.

Matchday revenue was down by around £500,000 to £2.7m, while televisio revenue and subsidies from the league fell from £6.7m to £1.9m.  Commercial revenue however, held up well, falling by just over £100,000 at £4.3m.

Since June 2018, Rovers have entered in to transfer agreements amounting to a total of £7.6m. The club say the maximum owed to other clubs, or third parties, is £2.1m.

Meanwhile, the club was shown live on Sky four times, one time fewer than in 2016/17, but higher than two of the three seasons prior to that, while attendances increased to 12,832, from 12,688.

Writing in the accounts, Chief Executive Steve Waggott said: “As referred to in the Strategic Report, the club responded to the reduced levels by implanting reductions in wage and salary costs, as well as operating costs, and the club remained FFP compliant in this period also.

“Despite relegation to the third tier of English football, ticket revenue and hospitality performed well due to a promotion campaign and the hard work of the commercial team. The main reduction were in monies received from the league and a drop in sponsorship revenue.”