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Liverpool post £50m loss in latest accounts

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By Andrew Tuft

Thursday 03 May 2012

Liverpool have confirmed a loss of almost £50m in their latest set of accounts, after pay-offs to former manager Roy Hodgson, former managing director Christian Purslow, and the writing off of a £35m stadium expense from the club’s former owners, the Daily Telegraph has reported.

The sacking of Hodgson and the departure of Purslow, among other staff moves, added £8.4m to the club’s expenses, the newspaper notes, while £35m was lost on the HKS Stanley Park stadium design spearheaded by former owners George Gillett and Tom Hicks. John W. Henry and the Fenway Sports Group purchased the club from the pair in October 2010.

Despite the loss, which totals £49.4m, Ian Ayre, the current managing director of Liverpool, insists the club is in good financial health. He said: “I guess people will focus on the loss…and there’s no business…who are going to be pleased with any loss… A big chunk of that £50m loss relates to the HKS project - which is now defunct - and associated costs around that.

Ayre also defended the money paid out to Hodgson and his staff as normal football practice associated with the termination of any employee, and said the club’s accounts were generally in good shape because of actions taken by FSG.

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