Liverpool FC revenue up to £364m; profit at £39m

Liverpool FC said its revenue increased by £62 million to £364 million in the financial year to May 31, 2017, and profit after tax was £39 million following a loss of £21 million in the prior year.

Liverpool said it made a further net cash investment of £91 million on players and infrastructure following the £95 million invested the previous year.

Net bank debt increased by £22 million to £67 million.

Work started on a new £50 million training ground in the summer and the club signed 12 new commercial partnerships.

“Over the past seven years, the club has been transformed to a financially stable, sustainable and growing football club since Fenway Sports Group (FSG) took ownership in October 2010,” said Liverpool.

Media revenue increased £30 million to £154 million with the first year of a three-season Premier League broadcast deal, and commercial revenue grew by £20 million to £136 million.

New wholesale retail businesses were established in US, Hong Kong, Canada and the Netherlands.

“It was in this financial period that LFC opened its expanded Main Stand which saw an increase in Anfield’s capacity to 54,074,” said Liverpool.

“And despite not playing in Europe during this financial period, matchday revenue increased by £12 million to £74 million mainly as a result in the increased hospitality sales.

“Following the continued cash investment in players and capital infrastructure, net bank debt increased by £22 million to £67 million which is sustainable given the overall growth of the club’s financial performance.”

Andy Hughes, LFC’s chief operating officer, said: “With the full support of this ownership group, we have significantly improved the club’s financial position over the past seven years and these results further demonstrate our solid financial progress – despite the ever-rising costs in football.

“During the seven years, we have seen operating profits one year and losses in others, a situation which can be attributed, in the main, to player trading costs and the timing of payments.

“What is important is the underlying trend that has continued with the aim of strengthening our financial position with profits being reinvested back into the club and players, allowing this long-term stability to become a reality.

“In addition to the three-year Premier League TV deal, we have had a successful commercial year which included a new training kit partner in BetVictor, a record number of home shirts sold recognising the club’s 125th anniversary, and a successful first season with the opening of our expanded Main Stand.”

Hughes added: “These results are approaching a year old. Further progress and reinvestments have continued to be made both on and off the pitch.

“Our recent capital projects which include the Main Stand, the new retail store, the combined training ground and the new pitch at Anfield will be close to £200 million which further demonstrates the commitment from this ownership.

“We continue to work up design, capacity and economic viability options for Anfield Road working with an architect to help with that process. This follows the same comprehensive process we followed with the Main Stand expansion.

“Performance on the pitch and the reinvestment in our squad is always a priority and following the club’s record signing in January we will look to invest again in the summer.

“Progress on and off the pitch is critical to the growth of this football club – we all want success and everything we’re doing is geared toward fulfilling our football ambitions.

“We must also continue to manage our finances and cash flow effectively that we have worked so very hard to secure since FSG took charge of the club.”