Liverpool post £57 mn loss for 2023/24 season after Champions League absence / Photo: © POOL/AFP/File
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The China Mail - Liverpool post £57 mn loss for 2023/24 season after Champions League absence
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Liverpool post £57 mn loss for 2023/24 season after Champions League absence
Liverpool on Friday posted a loss before tax of £57 million ($72 million) for the 2023/24 season as their Champions League absence and soaring administrative costs took a toll.
But the Premier League club's overall revenue rose by £20 million to £614 million, with commercial revenue climbing by £36 million to £308 million.
After a loss of £9 million in the previous season, a £38 million drop in media revenue for 2023/24 contributed to a second straight campaign in the red.
It was the first season since 2016/17 in which the club did not play in the Champions League, Europe's top club competition.
Matchday income rose by £22 million thanks to the opening of the new Anfield Road stand but staff costs -- primarily wages and associated bonuses -- increased by £13 million to £386 million.
That was partly due to bonuses for Champions League qualification and a League Cup win during Jurgen Klopp's final season at Anfield.
Pay-offs to cover the time remaining on the contracts of Klopp and his backroom staff when they left amounted to £9.6 million.
Liverpool finished third in the Premier League and reached the quarter-finals of the FA Cup and Europa League in 2023/24.
The wage bill was eased by the departure of a number of higher earners including Roberto Firmino, Fabinho and Jordan Henderson.
The club added Alexis Mac Allister, Dominik Szoboszlai, Wataru Endo and Ryan Gravenberch to their senior men's squad for a combined figure of around £150 million.
"Operating a financially sustainable club continues to be our priority and, with the continued increase in costs, it's essential to grow income streams year on year to maintain financial stability," said finance officer Jenny Beacham.
"The success of our commercial operations, together with the opening of the new Anfield Road Stand, has increased our revenues during this reporting period, which demonstrates our desire to continue to compete at the highest levels of football in the men's and women's games."
Liverpool, in their first season under Arne Slot, are closing in on a record-equalling 20th English top-flight title, 13 points clear of second-placed Arsenal in the Premier League with just 10 games remaining.
They face Newcastle in the League Cup final at Wembley on March 16 and are through to the last 16 of the Champions League against Paris Saint-Germain.
B.Carter--ThChM
