Sunderland have recorded an overall loss of £7.8million as they prepare for the implementation of UEFA's financial fair play rules.

The loss for the year ended July 31, 2011 represented a 72% reduction (£20.1million) on the figure of £27.9million 12 months earlier, the club has confirmed.

However, an increase in operating expenses, largely the result of the addition of 14 new players to the first-team squad, contributed to a net operating loss of £31.2million.

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