Sports

Liverpool reported losses of $ 64 million when the pandemic took effect

Written by admin

Image source: AP

Anfield Stadium in Liverpool seen after the collapse of the English participation in the proposed European Super League, Liverpool, England, Wednesday, April 21

Liverpool reported a pre-tax loss of £ 46 million ($ 64 million) for the last financial year, mainly due to the impact of the coronavirus outbreak on the English champion’s media revenues and election income.

The losses for the fiscal year ending in May 2020, a period covering the first three months of the pandemic when the Premier League was halted, amounted to a negative fluctuation of 88 million pounds (122 million dollars) from the position of Liverpool a year ago.

Revenue from the media fell by 59 million pounds ($ 82 million), and the four fewer home games in the Premier League during this period reported a decrease in revenue from matches by 13 million pounds (18 million dollars).

Trade revenue rose 29 million pounds ($ 40 million) to 217 million pounds ($ 300 million) amid announced eight new partnerships.

In March 2020, Liverpool announced a profit of 42 million pounds (58 million dollars), for the fifth time in six years the club was on the black under its American ownership Fenway Sports Group.

“We were in a stable financial position before the pandemic and from that reporting period we continued to manage our costs effectively and navigate during such an unprecedented period,” said Liverpool Managing Director Andy Hughes. “We can now look forward to the end of this season and hope for a more normal start to next season.”

FSG, which has been heavily criticized by Liverpool fans for its role in helping shape the ill-fated European Super League, sold a 10% stake in private investment firm RedBird Capital for £ 543 million ($ 750 million) last month.

.


Source

Leave a Comment

%d bloggers like this: