Liverpool announce pre-tax loss of £19.8 million
Overall revenues increased to £301.8 million though11:30 Wednesday 1 March 2017, 11:30 1 Mar 2017
Liverpool Football Club have announced a pre-tax loss of £19.8 million for the year to the end of May 2016.
Overall revenue at the club increased by £3.9 million to £301.8 million while matchday revenue was up by £3.4 million since the opening of the new stand at Anfield.
Speaking at the announcement of the results, Andy Hughes, the club's chief operating officer said: "These results demonstrate the solid financial progress that’s been made over the past six years under the leadership of FSG with continued investment in the playing squad and the completion of the main stand.
“The increase in the underlying revenue adds further strength to the club’s financial position despite the cost of football rising with player transfer fees, wages and agents’ costs.
“During this reporting period, we also agreed a new five-year credit facility, which further secures the club’s long-term financial stability," he added.
The Merseyside club bought 12 new players during the period and also signed up an additional 12 academy players which contributed to the costs.
Liverpool are ranked ninth in Deloitte Football Money League and this is despite not playing Champions League football during that period.
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