Controversial Blackburn Rovers owners Venky's have confirmed that they will provide "additional funding" for the club over the next year.
The comments came as the company unveiled Rovers' annual accounts, which showed a fall in losses to £2.8m for the year ending March 2016, down significantly from a £35.1m loss the year before.
Loans from Venky's to the club have now reached £121m but the Indian company have pledged more funding despite ongoing protests from fan groups urging them to sell.
"The focus of the company has again been for the football club to obtain promotion back to the Premier League, and become compliant with FFP (Financial Fair Play)," said the club's directors. "Further significant changes were made to the playing squad to reduce ongoing costs, whilst at the same time reducing the average age of the playing squad, and increasing its potential re-sale value.
"The reduction in turnover was due to a further reduction in the share of parachute payment received by the club. Operating expenditure for the year also reduced, wages and salaries reduced, and other operating costs significantly reduced. Compliance with Championship Football Fair Play (FFP) regulations will challenge all football clubs as they try to manage finances, such that they operate within income levels.
"The focus for Blackburn Rovers has to be on striving for promotion back to the Premier League, but also working to increase revenue streams back up to a level that will allow them to achieve this. The group will require significant funding in addition to the current facilities available to the group."
The board added that it has received confirmation from parent company Venkateshwara Hatcheries Pvt Ltd that "it has sufficient funds and is willing to provide such additional funding as may be required to fund the [club]".
Neil Wilkes
