Aston Villa today announced interim losses of £16.5 million, including £4.1 million to pay off players' contracts.
Villa ended Turkish international defender Alpay Ozalan's contract by mutual consent in October and terminated the contract of Croatian striker Bosko Balaban in early December, both in a bid to cut costs.
The results, for the six months ended November 30th, also showed an operating loss of £12.4 million.
In August, Villa revealed full-year pre-tax losses of £11.6 million pounds.
Villa, managed by Irishman David O'Leary, are 12th in the 20-team premier league.
