Last updated on .From the section Football

Brighton are second in the Championship table after 19 games of the season

Brighton & Hove Albion have announced a loss of £25.9m for the financial year to the end of the 2015-16 season.

The figure is a substantial increase on the previous year, when the Seagulls recorded a loss of £10.44m.

The larger loss is mainly because of investment in the playing squad, as Albion finished third in the Championship table last season.

"Our ambition remains for the club's teams to play at the highest level possible," chairman Tony Bloom said.

"As chairman (and lifelong supporter of the club), I will do everything I possibly can to achieve that and remain fully committed."

Brighton accounts 2015-16 Operating loss: £25.9m (up from £10.44m) Turnover: £24.6m (up from 23.7m) Football costs: £30.7m (up from £23.7m) Administrative and operational costs £12.3m (up from £11.8m)

Brighton say they remain compliant with Financial Fair Play (FFP) regulations, which permit a club's losses to reach an aggregate of £39m over a three-season period.

"Any Championship club without parachute payments wishing to compete for promotion will inevitably make significant losses," Bloom added.

"It remains a delicate balancing act for the board as we strive to achieve our ultimate aim."