Liverpool have reported losses of £49.4m in the last financial year, but the situation is not as bad as the headline figure would suggest. The loss is exceeded by a £59m provision for exceptional items.
These include £35m written off on the Stanley Park stadim project and £8.4m in costs relating to contract terminations. The latter relate to the sacking of Roy Hodgson, now England manager, after 191 days in charge. However, compensation was also paid to former managing director Christian Purslow.
Liverpool have reported losses of £49.4m in the last financial year, but the situation is not as bad as the headline figure would suggest. The loss is exceeded by a £59m provision for exceptional items.
These include £35m written off on the Stanley Park stadim project and £8.4m in costs relating to contract terminations. The latter relate to the sacking of Roy Hodgson, now England manager, after 191 days in charge. However, compensation was also paid to former managing director Christian Purslow.
The figures do not include a record kit deal concluded with American company Warrior Sports that is worth £25m. The club has also reduced interest charges from £18m to about £3m.
Managing director Ian Ayre considers that the accounts show that the club is now on a firmer financial footing and is well placed to meet Uefa’s financial fair play regulations. The task now is to improve performances on the pitch and qualify once again for the Champions League.