THE publication of Rovers accounts’ again underlines the club’s reliance on owners Venky’s but crucially also means the club are now free from a registration embargo imposed by the EFL.

Rovers hit two key deadlines by submitting their profit and sustainability projections with the EFL by the end of March and filing their accounts by the end of June in order to be able to sign players.

The EFL, as part of a new move to increase transparency, has published the names of those clubs that are operating under embargoes and it does not include Rovers, something confirmed to the Lancashire Telegraph by the club.

Championship outfits Derby, Hull, Reading and Cardiff, League One Fleetwood and Gillingham and League Two Oldham, Swindon and Scunthorpe, are listed as working under varying transfer restrictions.

Derby’s problems are well documented and the EFL lists several issues surround their embargo namely a failure to provide audited annual accounts, annual accounts not being filed with Companies House, a default in payments to HMRC and a default in paying transfer fee instalments.

Hull’s is noted as ‘conditions under monitored loan agreement’ which relates to the EFL’s support for clubs in Leagues One and Two during the pandemic.

Reading are noted to have breached profit and sustainability rules while Cardiff, added more recently than the other three, have defaulted in paying transfer fee instalments.

Rovers’ embargo largely came to light with Joe Hilton’s loan move to Hamilton in Scotland.

Unable to sign players at the time, the club were working alongside the EFL to ensure that contract negotiations agreed with members of their squad were ratified.

However, a delay to the ‘keeper’s two-year extension agreed prior to the switch north of the border saw his season-long loan held up before ultimately being completed.

The filing of the club’s accounts has seen the embargo lifted however with the near £22m loss up £3.7m from the prior 12months

On the increased loss, amounting to around £400,000 a week, chief executive Steve Waggott says in the accounts: “This was mainly due to the increased investment in the first team squad and management at the start of the financial year and the reduction in expected revenue over the last four months due to the impact of Covid-19.

“At Ewood Park the emphasis and focus continued to be on trying to drive up commercial revenue whilst increasing fan engagement and attracting new supporters.

“The Covid-19 pandemic severely reduced match-day and non-match day income over the last three months of the season.

“We must thank the owners for their continued support of the club throughout these financially challenging and unprecedented times.”