Liverpool debt increases
Liverpool have reported a debt increase of £21.8m and a ten month loss of £40.5m, after the club’s accounts have been revealed, The Guardian reports.
The effects of the Reds signing expensive players in Fenway Sports Group have shown, with the club’s losses recording in the ten months to May 31st 2012. During that period, which covered Liverpool’s August 2011 and January 2012 transfer window, the wage bill was £109m and included the salaries of Andy Carroll, Jordan Henderson, Stewart Downing and Charlie Adam, all signed in the early months following the FSG takeover.
Accounts also disclosed that Liverpool paid £9.6m in termination payments to their former employees, which relate to FSG’s sacking of several people including Kenny Dalglish. FSG have loaned money to Liverpool in an attempt to improve the club’s financial position and managing director Ian Ayre argued that the club’s transitional period has “implemented a new transfer strategy” which aims to “bring in talented players on sensible contracts”.
Ayre said: “We’ve done it in a frugal way with payments in instalments both for players and selling clubs. It’s important that we have that sort of prudent approach, as we want to create sustainability for the club”.
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