BSP-09 Liverpool post œ106 million world record net profit

488

ZCZC

BSP-09

FBL-ENG-PR-LIVERPOOL-EARNINGS

Liverpool post œ106 million world record net profit

LONDON, Feb 8, 2019 (BSS/AFP) – Liverpool posted a world record-breaking
œ106 million ($137 million) net profit last year even after spending œ190
million on new players, according to financial results announced on Friday.

The club’s profit before tax was œ125 million — up from œ40 million —
with the club benefiting from increased revenue both on and off the pitch
from a run to the Champions League final in Kiev, where they were beaten by
Real Madrid.

Turnover increased by œ90 million to œ455 million in the 12 months to May
31 last year, with media revenue, commercial revenue and matchday revenue all
up.

The previous record was set by Leicester (œ80 million after tax) in
2016/2017, the season after they won the Premier League, when they reached
the Champions League quarter-finals.

Liverpool still trail the two Manchester clubs in revenue terms. United
declared their results for the 12 months to the end of last June in
September, with revenues of œ590 million.

Jurgen Klopp’s side are level on points with Manchester City at the top of
the Premier League as they chase their first English top-flight title for 29
years.

The financial statement shows œ137 million came from player transfers, the
largest chunk being Philippe Coutinho’s January sale to Barcelona in a deal
that could eventually worth up to œ142 million, during the accounting period.

The club invested heavily, signing Mohamed Salah, Alex Oxlade-Chamberlain,
Andrew Robertson, Dominic Solanke and Virgil Van Dijk, who arrived as the
world’s most expensive defender at œ75 million.

Since the end of the reporting period club owners Fenway Sports Group have
spent more money on players, with Naby Keita, Fabinho, Xherdan Shaqiri and
Alisson Becker, briefly the world’s most expensive goalkeeper, coming in at a
cost of œ165 million but those deals will be reflected in the current year’s
figures.

“Financial results do fluctuate depending on player trading costs and
timing of payments but what’s clear in these latest results is the further
strengthening of our underlying financial footing and profits being
reinvested in the squad and infrastructure,” said chief financial officer
Andy Hughes.

“Since the reporting period, which is now nearly 12 months old, we have
continued reinvesting in the playing squad from those areas of growth. We’re
making solid progress right across the club.”

Overall, the club’s social media platforms had a 14 percent growth rate
and in May 2018, they had the highest viewing figures on YouTube ever for a
Premier League club and third of any sports club globally.

In January, Liverpool climbed two places to seventh in Deloitte’s Football
Money League. The top-ranked English club on the Deloitte’s list were
Manchester United, in third.

BSS/AFP/BZC/1930HRS