Liverpool posts 49.8 million pound loss despite increased turnover

The club's turnover rose by nine percent, with debt being decreased by 29 percent, while a cash injection from Fenway Sports Group saw the repayment of a stadium loan.
Liverpool incurred a loss of 49.8 million pounds in the financial year ending May 31, 2013, new accounts have shown.

Although the club's turnover rose by nine percent to £206.1 million in the 12-month period, with debt falling by 29 percent to just over £45 million, the club's latest figures show Liverpool still suffered a significant post-tax loss.

A statement on the club's official website read: "Since Fenway Sports Group (FSG) completed its takeover of Liverpool FC in October 2010, revenue has steadily increased year on year and external debt has decreased overall by nearly £200 million.

"Despite the club dropping three places to 12th in Deloitte's Football Money League, Liverpool remains the highest ranked club that is not in the Champions League.

"Its commercial revenue now accounts for 47 percent of the total revenue, which is bettered by only the Money League's top six."

Managing director Ian Ayre said the figures are a sign of Liverpool's ongoing development, with the club currently second in the Premier League table and on course for a lucrative return to the Champions League following a four-season absence.

"These results demonstrate that 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," he said. "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.

"During the period, we signed six new players including Daniel Sturridge, Philippe Coutinho and Joe Allen, and we extended seven players' contracts ... adding strength and depth to the squad while continuing to develop young talent.

"Given where Liverpool Football Club was only a few years ago, the progress that has been made since FSG acquired the club has brought back much-needed stability with an ambitious vision which everyone is focused on. I'd like to thank everyone involved in running the club - our owners, fans, partners, players and staff - for all the hard work and dedication."