Premier League: Leaders Liverpool announce pre-tax profit of $54.57 million after Champions League-winning campaign

Liverpool signed goalkeeper Alisson and midfielders Naby Keita, Fabinho and Xherdan Shaqiri during the accounting period and offered new deals to 11 players

Reuters February 27, 2020 21:25:31 IST
Premier League: Leaders Liverpool announce pre-tax profit of $54.57 million after Champions League-winning campaign
  • Premier League leaders Liverpool announced on Thursday a pre-tax profit of 42 million pounds ($54.57 million) and increased turnover of 533 million pounds for last season’s Champions League-winning campaign

  • The club, which also finished as Premier League runners-up, said turnover rose by 78 million pounds for the year ended 31 May, 2019, and that it had invested a club record 223 million pounds in players

  • Liverpool signed goalkeeper Alisson and midfielders Naby Keita, Fabinho and Xherdan Shaqiri during the accounting period and offered new deals to 11 players

Premier League leaders Liverpool announced on Thursday a pre-tax profit of 42 million pounds ($54.57 million) and increased turnover of 533 million pounds ($687 million) for last season’s Champions League-winning campaign.

Premier League Leaders Liverpool announce pretax profit of 5457 million after Champions Leaguewinning campaign

Representational image. Action Images via Reuters/Paul Childs

The club, which also finished as Premier League runners-up, said turnover rose by 78 million pounds ($100 million) for the year ended 31 May, 2019, and that it had invested a club record 223 million pounds ($287 million) in players.

Liverpool signed goalkeeper Alisson and midfielders Naby Keita, Fabinho and Xherdan Shaqiri during the accounting period and offered new deals to 11 players, including Jordan Henderson, Roberto Firmino, Mohamed Salah, Sadio Mane, Andy Robertson and Trent Alexander-Arnold.

Media, commercial and match revenue all increased as a result of the club winning their sixth European Cup in the same season that a new Champions League broadcasting deal commenced.

Media revenue rose by 41 million pounds ($52 million) to 261 million pounds ($336 million), commercial revenue was up 34 million pounds ($40 million) to 188 million ($242 million), and match revenue climbed 3.5 million pounds ($4.5 million) to 84 million ($108 million).

"What we're seeing is sustained growth across all areas of the club, which is aligned to the recent performance on the pitch," chief operating officer Andy Hughes said in a statement here

Liverpool invested 50 million pounds ($64 million) in a new training facility in Kirkby and signed nine new commercial partnerships during the period. They also plan to expand their stadium capacity by rebuilding the Anfield Road stand.

“The cost of football, however, does continue to rise in transfers and associated fees but what’s critical for us is the consistency of our financial position, enabling us to live within our means and continue to run a sustainable football club,” Hughes added.

“This sustained period of solid growth is testament to our ownership, Fenway Sport Group, who continue to support the club’s ambitions and continue to reinvest revenues.”

Liverpool lead the Premier League table by 22 points and are 12 points away from winning their first English top-flight title in 30 years.

The Merseyside club are 38 points above fifth-placed Manchester United who reported on Tuesday a 19% fall in revenue and 31% fall in core earnings for the second quarter, due mainly to their absence from the Champions League.

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