Liverpool FC has filed its annual accounts for the year to May 31, 2016 reporting that revenues are continuing to grow, creating further financial stability for the club.
Overall revenue increased to a record £301m and has grown year on year since Fenway Sports Group (FSG) took ownership of LFC in October 2010. Media revenue and matchday revenue increased, mainly as a result of the club reaching two cup finals and a successful pre-season tour in Asia and Australia.
Commercial revenues remained strong despite the construction of the Main Stand at Anfield impacting on access to the stadium on a non-matchday. Ten new partnerships were announced during the reporting period, including Draftkings, Vixlet, Claymore Wines and Skype; while four existing partners renewed their deals, further demonstrating the club’s global appeal. The club also launched an official LFC online store on the JD.com marketplace in China – becoming the first football club in Europe to do so.
Digitally, there was an 18 per cent increase in new followers, taking the overall total to over 50 million across the club’s social media platforms. New LFC websites were also launched in Arabic, French and Spanish.
Despite overall revenue increasing, the club reported a loss of £19.8m for the period, mainly as a result of further investment and turnover in the first-team squad. Twelve additions were made to the first team, including Roberto Firmino, James Milner, Marko Grujic, Danny Ings, Nathaniel Clyne and Joe Gomez. Young player development also continues to be an important part of the club’s football strategy, with 12 Academy players offered professional contracts.
Andy Hughes, chief operating officer at Liverpool Football Club, said: “These results demonstrate the solid financial progress that’s been made over the past six years under the leadership of FSG with continued investment in the playing squad and the completion of the main stand.
“The increase in the underlying revenue adds further strength to the club’s financial position despite the cost of football rising with player transfer fees, wages and agents’ costs.