London (AFP) – Liverpool made a pre-tax loss of £9 million ($11.4 million) last season as increased commercial income failed to offset a drop in media and matchday revenues, the club’s latest accounts revealed on Thursday.
Overall revenue to the end of May 2023 remained static at £594 million after a disappointing campaign in which Jurgen Klopp’s men finished fifth in the Premier League and made early exits from the Champions League and both domestic cups.
The wage bill for the current Premier League leaders rose £7 million to £373 million and administrative costs climbed by £17 million to £562 million.
The previous 12 months had produced a small profit of £7.5 million.
Liverpool’s biggest income stream in 2022/23 was the £272 million, up £25 million, generated from off-field income, but a last-16 Champions League exit a year after reaching the final meant media revenue dropped by £19 million to £242 million.
Matchday revenue also fell due to fewer games being played across last season after the previous campaign, when the club played in every fixture – a total of 63 — they were eligible for, winning both domestic cups and reaching the Champions League final.
“Despite the significant growing costs of football, the success of our commercial operations demonstrates the strength of our underlying financial position so we can continue to operate sustainably while competing at the highest levels of football,” said managing director Andy Hughes.
“While these financial results are a moment in time on our journey, what remains constant is the growing global appeal of the club.”
Matchday revenue will increase after the new Anfield Road stand was fully opened earlier in February, meaning Anfield’s capacity will reach 61,000.
During the reporting period Liverpool signed Darwin Nunez, Cody Gakpo, Calvin Ramsay and youth team goalkeeper Kornel Misciur for a combined initial fee of £105 million but offloaded Sadio Mane, Divock Origi, Takumi Minamino and Neco Williams.
There were also significant contract renewals, including one for top-scorer Mohamed Salah, who became the highest earner in the club’s history on a reported deal of £300,000 per week.
Liverpool, on Sunday crowned League Cup champions in manager Klopp’s final season at Anfield, are top of the Premier League and still involved in the FA Cup and the Europa League.
© 2024 AFP
