Premier League hopefuls Middlesbrough have provided supporters with a further boost after announcing a reduction in losses for the latest year according to the Gazette Live.

After post Christmas stuttering form, Boro have returned to their best in recent weeks winning their last three matches and closing the gap between themselves and Championship leaders Burnley to just a single point. The Teessiders could move into pole position should they win their game in hand over The Clarets.

With a feel good factor hovering around The Riverside Stadium, the club have announced that their financial future is also moving towards a more stable footing with pre-tax losses reducing to £9 million for the year ending 30 June 2015, a huge reduction of £11.4 million on the previous year.

The improved financial figures are a direct result of the club’s success during the 2014/2015 season under the guidance of Manager Aitor Karanka. Despite missing out on promotion to the Premier League, Boro made it to the Championship Play Off Final where they were defeated by Norwich City. The club also had good runs in the cups with Boro beating Manchester City 2-0 on their own turf in the FA Cup and pushing Liverpool to a penalty shootout at Anfield in the League Cup with Middlesbrough eventually being knocked out after a rollercoaster 14-13 defeat on spot kicks.

Boro have again had a solid season during the current campaign with Karanka at the helm and the club’s finances will be significantly boosted should the club secure a long awaited Premier League return, a prize which is reportedly worth around £100 million.

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I am Dan Pentland and I am a York City season ticket holder and volunteer for men's health charity Prostate Cancer UK. In May 2015, I completed my childhood dream of visiting all 92 Football League grounds. Follow me on Twitter @DanPentlandpcuk and Facebook