R1.2bn debt for Liverpool
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.
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