Brighton chairman Dick Knight has reassured fans after the Seagulls announced pre-tax losses of £2,800,000 in the year ending June 2007.Knight insisted that the results had been expected and that the club would still push ahead with their plans for a new stadium.

"The results were predictable in the circumstances, representing the combined effects of relegation to League One in 2006/07 and a further £500,000 plus expenditure on the Falmer stadium project," Knight told the club's official website.

"However, despite these big added blows, judicious house-keeping of our budgets meant that operating losses increased by only £461,000 on the previous year.

"The losses have been contained by additional shareholder funding and the board continues to press forward with the stadium plans.

"The results spell out the urgent need for the new stadium, with all the economic benefits it will bring. Let no-one be in any doubt of our determination to deliver this prized asset for the community."

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