OXFORD United's latest accounts show the cost of the coronavirus pandemic as the club posted losses of £3.8 million.

The figures, which are yet to be released on Companies House, cover the 12 months ending June 30, 2021, which included a season played almost entirely behind closed doors.

Covid restrictions prevented U's fans from attending all-but four matches at the Kassam Stadium in 2020/21, with only a reduced capacity allowed in to each game.

It meant matchday revenue streams including gate receipts, retail and hospitality were vastly reduced in a campaign where the club reached the play-offs for the second successive season.

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Instead, fans paid to watch matches on the iFollow online streaming service.

In a statement, United said: "The club are grateful to fans who have returned in record numbers this season, and to our shareholders in funding our losses during an unprecedented and very difficult year."

The club's previous accounts, covering the year ending June 30, 2020, showed a £1.5m profit thanks to the exits of Gavin Whyte to Cardiff City and Shandon Baptiste and Tariqe Fosu to Brentford.

In total, the club made a £5.7m profit on player sales in 2019/20, but that number fell to £1.8m last year - with the majority coming from Rob Dickie's exit to Queens Park Rangers in September 2020.

Reports at the time suggested the Sky Bet Championship club paid £2m for the centre back.

Meanwhile, turnover fell from £6.6m in the 12 months ending in June 2020 to just under £5.96m last year.

Despite this, United's expenditure grew from £9.95m in 2019/20 to £10.87m in 2020/21.

United revealed they paid off 'all third-party loans excluding shareholders, a £50,000 bounce back loan and an EFL loan of £180,000' in 2020/21.

The statement added that shareholder support allowed the playing budget to increase and that the club 'invested in our staff across all areas of the business'.

Meanwhile, the U's received a one-off grant from the Premier League to help English Football League clubs cope with the coronavirus pandemic.