Liverpool Football Club have today posted £50million pound losses in the last trading year.
Ian Ayre confirmed the losses today, however he also insisted that the club are headed in the right direction and pointed to the considerably lower debt that the club now carries.
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.
Ayre released a statement on the official site earlier today saying “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.
“Over the past four or five years, revenue has been consistently increasing from around £170m in 2009 to over £200m today, and external debt has decreased significantly to less than £50m.
“With a hugely supportive ownership group, we have taken a measured approach to bring back financial stability to this great club by ensuring it is properly structured on and off the pitch”.
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