Liverpool promise more investment in transfers despite second successive financial loss

Liverpool have told supporters they will continue to invest in their playing squad and infrastructure despite suffering a second successive financial loss.

The club revealed its financial results for the year to 31 May 2021 on Friday morning and announced a pre-tax deficit of £4.8m, down from a loss of £41.5m in the previous year.

The new is largely caused by the effects of the Covid-19 pandemic, particularly the lack of ticket and stadium income with supporters having been barred from attending fixtures for the majority of the period the results cover, meaning matchday revenue fell by nearly 95 percent.

The overall revenue the club made also took a hit, down £3m to £487m, but new sponsor agreements with the likes of Nikes, Quorn and Amazon helped Liverpool increase commercial revenue despite a lack of income from the likes of museum tours and retail store purchases due to Covid-related closures.

These accounts cover the period in which the Reds won a 19th league title, and include money spent on new players including the likes of Thiago Alcantara, Diogo Jota and Luis Diaz. The Anfield Road stand is also being redeveloped by owners Fenway Sports Group, after a new Main Stand was built in 2016 and a new training facility in Kirkby was completed in 2020, in order to increase the capacity of Anfield to 61,000.

This is the club’s second loss in two financial years, after posting three healthy profits in the years prior, but managing director Andy Hughes insists the club can continue to invest moving forwards.

‘These latest results demonstrate the significant financial impact of the global COVID pandemic, which affected all areas of the business,’ Hughes said. ‘We have worked really hard these past years to get us into a