Liverpool suffer £49.8m loss despite increased turnover
Liverpool incurred a loss of £49.8 million in the financial year ending May 31, 2013, new accounts have shown.
Although the club's turnover rose by nine per cent to £206.1m in the 12-month period, with debt falling by 29% to just over £45m, their latest figures show they 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 £200m.
"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 per cent 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."