The latest annual accounts have been released by Reading FC, and it has been revealed that the club paid a Championship record of £225 in wages for every £100 in income in 2018-19.

The eye-watering figures show that Reading had an operating loss of over £40m. For context, clubs across the division lost a total of £307m in the 2017-18 season.

The average attendance at home games fell by just under 200, from 15,181 to 14,991 - but the number of season tickets fell by more than 1,500 from 11,586 to 10,052. Matchday revenue did increase by around £500k.

Despite the fall in attendances, Reading's hierarchy have continued to invest in the club, having spent £15.1m at the end of the financial year.

The club have announced that media revenue increased by £500k to a total of £8m and total turnover increased by £3.1m to £21m.

However, 'other operating expenses' aside from player salaries have increased £5.4m and now top £40m.

Reading are paying rent of £1.5m a year for the Madejski Stadium after selling it for £26.5m.

Amortisation and impairment costs have increased to £9.4m, from £8.3m.

The club have generated £2.4m in profit from sales, appearance and sell-on clauses in relation to a number of players, including Alex McCarthy, Oliver Norwood, Tiago Ilori and Jack Stacey.

It was also revealed that the club's highest paid director earned £1m.