Liverpool turn a profit for first time since 2008 and 19 per cent rise in revenue
Reds go from £49.8m loss to small pre-tax profit
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Your support makes all the difference.Liverpool have announced their first profit in seven years, marking the financial turnaround under Fenway Sports Group (FSG) after the torrid period of ownership under George Gillett and Tom Hicks.
The club’s revenue rose by 19 per cent to £255.6m, with the increase in media revenue from the Premier League TV deal – integral to the uplift – particularly pronounced because of the TV networks’ desire to broadcast Liverpool games last season. Brendan Rodgers’ team were featured in live games so often that they delivered the club a British record sum of money from central distribution of TV money: £97m.
Thanks to Liverpool’s mid-season renaissance, which could make Rodgers a contender for manager of the year, the club are eyeing the extra £20m which would come their way as a result of the uplift in Champions League broadcasting rights from next season.
Since FSG completed its takeover of Liverpool in October 2010, revenues have steadily increased year on year, with the owners’ policy of looking for players with potential to develop at Anfield, rather than marquee names, part of the push for sustainability. That has frustrated some fans, who view it as a lack of ambition, but Liverpool’s debt figure of £57.3m is certainly far healthier than the £237m when FSG took over.
Chief executive Ian Ayre said: “Revenue has been consistently increasing from around £170m in 2009 and our commercial revenues continue to add strength to our overall results. During these past transitional years, it was important that we took a measured approach to bring back financial stability.”
Liverpool have now moved back up to ninth place in Deloitte’s Football Money League having dropped to 12th place the previous year.
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