Middlesbrough have announced a significant financial boost after releasing their accounts for the year until June 30, 2019.

According to a detailed report from Teesside Live, the accounts show that the Teessiders made a pre-tax profit of £2million for the year in question.

This is a stark improvement on the on the 6.4million losses from the previous year.

A large part of the financial improvement was down to a staggering £33million profit on player sales with key stars such as Adama Traore, Patrick Bamford and Ben Gibson leaving the club for significant fees.

It was also revealed that the club had recouped a further £4.4mullion in player transfers in the period since last June, which will show up on next year's accounts.

Middlesbrough are working hard to reduce costs, with accounts likely to look increasingly healthy after the club continued to address their huge wage bill last summer.

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The verdict

The latest club accounts may not be enough to get supporters excited, but it certainly shows that Middlesbrough are moving in the right direction.

Regardless of how much they've overspent in recent years, the focus now has to be on getting the club on a sound financial footing by controlling costs and establishing a business model that makes the club self-sustainable.

That had been done this season with the transfer activity taken on by Jonathan Woodgate and the recruitment team, and is likely to continue over the summer.

If they can do that it might take a few years before they can challenge at the top of the table, but hopefully it'll stop the club going in the same direction as so many others.