Wednesday, July 9, 2025
spot_img

Liverpool suffer $64 million loss following pandemic

Date:

Share post:

spot_imgspot_img

Liverpool, April 27: Liverpool reported a pre-tax loss of 46 million pounds (64 million) for the last financial year, mainly because of the impact the coronavirus outbreak had on the English champion’s media revenue and matchday income.
The losses for the financial year ending May 2020, a period covering the first three months of the pandemic when the Premier League was suspended, equated to a negative swing of 88 million pounds (122 million) from Liverpool’s position a year ago.
Media income dropped by 59 million pounds (82 million) and the four fewer Premier League home games during this period saw matchday revenue decrease by 13 million pounds (18 million).Commercial revenue rose by 29 million pounds (40 million) to 217 million pounds (300 million) on the back of eight new partnerships being announced.
In March 2020, Liverpool announced a profit of 42 million pounds (58 million), the fifth time in the previous six years the club had been in the black under its American ownership, Fenway Sports Group.
“We were in a solid financial position prior to the pandemic and since this reporting period we have continued to manage our costs effectively and navigate our way through such an unprecedented period,” Liverpool managing director Andy Hughes said.
FSG, sold a 10% share of its business to private investment firm RedBird Capital for 543 million pounds (750 million) last month. (AP)

spot_imgspot_img

Related articles

Many of you can become astronauts, walk on Moon: Shubhanshu tells students at NESAC

NEW DELHI, July 8: “Many of you can become future astronauts, even walk on the Moon,” Shubhanshu Shukla...

Keep all 18 Khasi villages in Meghalaya: Heads of Raid Nongtung urge Conrad

SHILLONG, July 8: The traditional village heads along the Assam-Meghalaya border in Ri-Bhoi, under the banner of the...

Drug addiction fuels rise in petty crimes in city, says police

SHILLONG, July 8: There is a rise in petty crimes such as thefts and burglaries in the city,...

MHRC seeks report on alleged torture of youth at Sohra PS

SHILLONG, July 8: The Meghalaya Human Rights Commission (MHRC) has directed the Superintendent of Police of East Khasi...