Liverpool Reveal Further Financial Losses

Liverpool have revealed a loss of £40.5 million ($61m) from August 2011 until May 2012. The Premier League club’s latest financial results also show that commercial revenue increased during the same period, though the club’s debt rose from £65.4 million ($98.5m) to £87.2 million ($131.4m).

Losses were lower than the 2010-11 financial year, when they stood at £49.3 million ($74.3m)

Managing director Ian Ayre played down concerns about the latest results. He told the Liverpool Echo: “It’s definitely not something I believe anyone should be worried or concerned about. It is seasonal – our debt goes up and down.

“We have money to pay out and money coming in, just like any business.

“The difference in football is some of the swings are significant, so if you look at player trading, we may need to make investments as we do in the summer before our key revenues come in: big sponsorships cheques, big ticket revenues, all the media revenues etc.”

Ayre also pointed to the improved commercial deals that will be reflected in future results.

He added: “”Off the pitch, we forged new partnerships with Warrior, Garuda and Chevrolet – the revenue from these contracts will show in the 2013-14 financial accounts; however, these partnerships continue to demonstrate the strength and reach of the LFC brand.”