Liverpool: The Reds announce a second successive season of financial loss, majorly impacted by COVID-19 – Liverpool on Friday reported a second successive Covid impacted financial loss but the Premier League club said they remained committed to investing on and off the pitch. Follow Football related news updates on Insidesport.IN
Figures for the period ending May 2021, which included a first league title triumph in 30 years, show the club made a pre-tax loss of £4.8 million ($6.4 million) — down from a £46 million loss the previous year.
Overall revenue fell by £3 million to £487 million, with a huge drop of nearly 95 percent in matchday income — most matches took place in empty stadiums due to the coronavirus pandemic.
Managing director Andy Hughes said the hit to the club’s finances would not prevent further outlay on players and infrastructure but it was “imperative” they continued to live within their means. “We’ll continue to reinvest on and off the pitch to further strengthen our position and compete at the highest levels right across the club,” he said.
Liverpool: The Reds announce a second successive season of financial loss, majorly impacted by COVID-19
RB Leipzig defender Ibrahima Konate joined last July and the club signed Porto winger Luis Diaz for an initial fee of around £37 million in the January transfer window.
The club ‘s media revenue rose by £64.5 million due to the prolonged 2019/20 season, which fell outside of the previous reporting period.
“These latest results demonstrate the significant financial impact of the global Covid pandemic, which affected all areas of the business,” said Hughes.
“It’s been an unprecedented time on and off the pitch,” he added. “Our men’s team winning our 19th league title (in June 2020) was a truly fantastic achievement, but not having supporters in the stadium to share the moment was not how we wanted it to
be.” Jurgen Klopp’s Liverpool, who are just three points behind Premier League leaders Manchester City, take on Chelsea in the League Cup final on Sunday.
Liverpool: The Reds announce a second successive season of financial loss, majorly impacted by COVID-19
Follow Football related news updates on Insidesport.IN
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