adminLONDON. — Liverpool has reported a near £50m loss for their last trading year, but with considerably reduced debts, managing director Ian Ayre insists the English Premiership soccer club is heading in the right direction.
Figures for the financial year ending May 31, 2013 show Liverpool lost £49,8m, up £9.3m from the previous 10 months, but with the external debt down by 29 per cent to £45,1m on £206,1m turnover, up nine per cent, Ayre remains upbeat.
The increase in revenue continues a steady upward trend since Fenway Sports Group took over the club in October 2010 while, during the same period, external debt has fallen by almost £200m.
Commercial revenues rose to £97,7m from £63,9m, media revenues showed a slight increase at £63,8m from £62,8m while administrative expenses for the period were £213,1m compared to £176,5m. In a statement on the club’s official website, Ayre said: “These results demonstrate the financial health of the club continues to make good progress as we continue our journey to transform the club on and off the pitch. — Sky Sports.
Online Reporter