Scottish football club Kilmarnock has recorded a loss of almost £500,000 for the year ending 31st May 2010.
The figure follows a loss of just under £1m posted by the Scottish Premier League side for the previous year.
However things could have been worse for the club if former chairman Jamie Moffat had not been able to write off a debt of £900,000.
Speaking to BBC Sport club chairman Michael Johnston said: "The collapse of TV company Setanta is continuing to be felt.
"Added to that, our 11th-place SPL finish and lack of cup success also resulted in a significant loss."
The club's net debt is now £10.5m and The Killie chairman is looking for ways to reduce the player wage bill and attract new investment to the club.
He added "This magnitude of trading loss cannot be sustained."