Blackburn Rovers remain upbeat despite reporting a £6.5million operating loss in their 2008/09 accounts.

The Lancashire Telegraph says in his chairman's report, John Williams insisted Rovers could return to a 'trading' rather than 'net selling' club come 2010/11 - provided they finish this season around mid-table.

The operating loss, compared to the £6.6m profit made the previous season, has been put down to finishing six places below budget, coupled with lower TV appearances and an increased wage bill.

The accounts showed the sale of Roque Santa Cruz to Manchester City offset the loss in cash terms, with a £3.6million profit after taking into account player trading.