NEWPORT County AFC made a profit of just shy of £1million for the year ending in June 2019, helping them reduce the financial impact of the coronavirus pandemic.

The Exiles enjoyed an FA Cup run that included wins against Leicester and Middlesbrough to set up a fifth round clash with Manchester City in 2018/19.

Television fees and gate receipts from that campaign, which ended in defeat to Tranmere in the League Two play-off final at Wembley, have been vital during the Covid crisis.

"The audited accounts for the year ended 30th June 2019 have now been completed and will be filed at Companies House this week," read a County statement.

"The submission of these has been delayed as a result of operational and staffing issues faced by both the club and its auditors as a consequence of the pandemic.

South Wales Argus:

"Turnover for the year increased by 49 per cent on the previous year to £4,803,488, whilst operating and other costs increased by 22 per cent to £3,836,768. As a result, the profit for the year is £967,208 compared with £82,680 in 2017-18.

"The club employed 107 paid members of staff during the year together with 11 directors, who operate on an unpaid voluntary basis.

"The cash generated from this period, in conjunction with prudent financial management, has helped to reduce the impact of the restrictions faced by the club as a result of the Covid-19 pandemic."

County have cut their cloth accordingly and decided in the summer to plan for playing without crowds at Rodney Parade until 2021.

They also received another financial boost when their Carabao Cup encounter with Newcastle, which was earned by upsets of Swansea and Watford, was shown live on Sky Sports.

South Wales Argus:

That earned a six-figure sum while the Exiles are hoping that their FA Cup round three encounter with Brighton will also be picked by broadcasters.

County will also be helped after the Premier League and EFL reached a landmark agreement which will enable lower-league clubs affected by the coronavirus pandemic to access £250million in funding.

A new £50m package has been agreed for clubs in the third and fourth tiers.

It is understood clubs in Leagues One and Two will receive a minimum of £375,000 and £250,000 respectively, and then receive a share of a further £15m pot which will be distributed via a calculation of lost gate revenue approved by the EFL and the Premier League.

These clubs will also be able to access a further pot of £20million from which monitored grants will be awarded by a joint EFL and Premier League panel.

Clubs can apply based on need, and these funds need not be repaid provided they comply with transfer and wage spending restrictions and other EFL financial regulations.

The Premier League has committed to provide up to £15m in funding to cover interest payments and arrangement fees on a £200million loan to be taken out by the EFL, which it would then distribute to Championship clubs.

No club will receive more than £8.33million, and the facility is to cover PAYE liabilities only, up to the end of June 2021. The EFL will be responsible for ensuring loans are repaid before June 2024.

This fund will not be open to Championship clubs who are in breach, or suspected to be in breach, of EFL financial regulations, and clubs in receipt of a loan will be required to maintain compliance with those regulations.