West Bromwich Albion have reported a record turnover in excess of £66 million in their latest set of accounts at The Hawthorns.
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Albion's 2012 figures have seen profits slip from £9.1 million during the club's first season back in the top flight, to £1.5 million for the year ending June 2012, but much of the drop is covered by chairman Jeremy Peace's investment in the playing staff.
Much of the loss in profit is taken up by Albion's decision to pay Reading £6 million for striker Shane Long in August 2011 and salaries have risen in excess of £50 million, which is 74% of the club's total turnover.
The major slice of Albion's turnover comes from almost £50 million received from media rights as part of the Premier League contract.
The remainder of the figure includes £8 million from gate receipts, commercial income of £5.6 million and £2.6 million from merchandising sales.
Albion have also been able to reduce their net debt from £2 million to £500,000 as the team finished in 10th place in its second season back in the Premier League.
Chief executive Mark Jenkins said: "The club has continued to invest in its playing squad, both in transfer fees and wages, and total salaries now exceed £50 million per year.
"However, with careful budgeting and tight financial controls, we have managed to match our revenue to our costs and record a pre-tax profit of £1.5 million."
