Cardiff City posted a £35.1m loss for the financial year ending May 2025, the season they were relegated from the Championship. The club's accounts reveal they remain heavily dependent on majority shareholder Vincent Tan, whose loans to the club totalled almost £90m by the end of last season.

Despite the financial turmoil, Cardiff currently sit top of League One and are on course for an immediate return to the second tier. The club's turnover increased by £2.6m to £25.8m, but their wage bill rose to £29.1m during the campaign. The accounts confirm most players had relegation clauses in their contracts.

The financial report highlights the immediate challenge of bridging the significant drop in turnover following relegation. Cardiff have paused development of their proposed new training base and restructured their squad by utilizing academy talent. New manager Brian Barry-Murphy has successfully implemented this strategy, positioning the Bluebirds for promotion despite the substantial financial losses.