This will mean that Brendan Rodgers can continue to bring European football to Anfield…
Liverpool have announced that they have turned a profit for the first time in a decade, reports the Daily Mirror.
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The Merseyside club were in danger of a ban from European competition after posting a loss of £49.8 million last season due to Financial Fair Play. However, the Reds will be fine now after this encouraging announcement that they have made a £0.9 million profit.
Revenues have increased 19% to £255 million, putting the Anfield outfit in to ninth in Deloitte’s money league. The side’s net debt has increased from £12.2 million to £57 million, but this is still a massive turnaround from when Fenway Sports Group took over the club in 2010. The American consortium saved Liverpool from bankruptcy following the terrible Hicks and Gillett era.
Chief executive Ian Ayre said of the results: “We continue to make good financial progress. It shows we have stabilised the Club and provided a platform for growth. Revenue has been consistently increasing from around £170 million in 2009 to over £250 million today and our commercial revenues continue to add strength to our overall results.”
He added: “We continue to add strength and depth to our playing squad while continuing to develop young talent. With a hugely supportive ownership, we have brought financial stability back to this football club and we now have the right structure, platform and ambition to continue growing on and off the pitch.”