English Premiership

R1.2bn debt for Liverpool

2013-03-04 17:16
Liverpool (File)

Liverpool - Liverpool's debt rose by a third to £87.2m (about R1.2bn) after spending on players who have failed to re-establish the club as a power in England or Europe.

Liverpool are seventh in the English Premier League and no closer to returning to the lucrative Champions League they last played in during the 2009-10 season.

Accounts released on Monday showed that Liverpool's debt rose to £87.2m between August 1, 2011 and May 31, 2012.

Liverpool managing director Ian Ayre says "net debt comes largely as a result of our activity around player trading."

Liverpool reported a loss of £40.5m in the accounts covering a 10-month period, in line with the losses in the previous full financial year.

Read more on:    liverpool  |  english premiership  |  soccer
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