BLACKBURN Rovers have announced a pre-tax loss of more than £40m in the club’s annual accounts.

The accounts, which cover the whole of last season, were received by shareholders yesterday.

They have yet to be filed at Companies House but they show Rovers made a loss before tax of £42.1m and that closing net debt has risen £25.3m to £79.8m.

Turnover increased from £26.9m to £30.4m and wages dropped from £36.6m to £34.5m.

That means the club’s wages to turnover ratio decreased from 136.1% to 113.5%.

Rovers will be placed under a transfer embargo from January 1 after breaking Financial Fair Play rules that stated Championship clubs could not post a loss of more than £8m for last season.

Leeds United and Nottingham Forest will also definitely face an embargo.

Rovers, who host Charlton Athletic today (3pm), will comment on the loss on Monday after the accounts are lodged with Companies House.