Stoke City made a pre-tax loss of £15.4m during the 2018-19 season - the club's first campaign after being relegated from the Premier League, reports BBC Sport.
The Potters previously recorded a pre-tax loss of more than £30m in 2017-18.
Debts owed to parent company Stoke City Holdings rose from £122.7m to £141.3m in the year up to 31 May 2019.
And turnover went down from just over £127m to £70.5m as Stoke finished 16th in their first season outside the top flight since 2007-08.
Media revenues reduced by almost 50%, from about £101m to £51.2m, while £67.4m was spent on new players.