Hibernian have released their financial results today with Covid-19 having a significant impact on the Easter Road club. 

For the year up to June 2020, the Leith outfit suffered an operating loss of £1.4m, with turnover down 17 per cent.

The Scottish football shutdown and the ongoing ban on fans in stadiums impacted the club's accounts, with their cash position falling from £5.3m to £2.6m between June 30 and December 31, with the club attributing this to “increased Covid-19 compliance cost and lack of revenue from game day fan attendance”.

The club’s wage to turnover ratio shot from 74 per cent compared to 59 per cent for the previous year, despite manager Jack Ross operating with a reduced squad and players taking wage deferrals between 20 and 50 per cent.

The club have managed to recoup some losses through the Government's Job Retention Scheme.

With over 10,000 season tickets sold for this season, the Hibees will be hoping their fans turn out in similar force to support them on and off the park next season.

In a letter to shareholders chairman Ron Gordon said: “Your Board and I would like to thank all those who supported the Club during the 19/20 season, especially in view of the challenges imposed on the Club and football in general by the Covid pandemic. 

“We are particularly grateful to our season ticket holders, the players and coaching staff, and the entire team at Hibernian FC for their tireless work behind the scenes to help the Club navigate the public health and financial challenges of the ongoing pandemic. 

“Gratefully, the vaccine programme combined with the restrictions of recent months are bringing the pandemic under control, and the outlook for football in 2021 is starting to look brighter. 

“We believe that in the foreseeable future we will be able to welcome you back to Easter Road. That will be a very special and wonderful day for us all.”