Four of the ever-present Championship sides since 2020-21 are also among the top six current second-tier clubs hardest hit by losses.

Bristol City (£111m), Preston (£84.4m), QPR (£82.9m) and Middlesbrough (£80.4m) have all failed to record a profit for five consecutive seasons – as have Derby, Millwall, Oxford, Portsmouth and Swansea.

Coventry City, who are on course to win promotion to the Premier League this season, have lost £29.5m in the past five years, while Ipswich Town are down £72.4m.

Maguire likened Championship owners striving for the top flight to “buying a EuroMillions ticket” with clubs chasing a TV deal worth £106m plus parachute payments in the Premier League compared to £12m in the second tier.

“If I’m a Championship owner, I know at the start of the season, in theory, I’ve got a one in eight chance of getting promoted,” he said, which is in turn causing owners to “act like the the bank of mum and dad”.

“They hand over money effectively unquestioningly, which is nominally a loan, but both parties know there is no chance of repayment.

“The owner of Stoke wrote off £90m, the Hemmings family in Preston put in £1m a month.

“And that now becomes the norm.”