Liverpool announce pre-tax loss of £46m due to the pandemic
The Reds have been hit hard by the pandemic’s economic effects as their revenue streams continue to decline.
’s latest accounts were released on Tuesday. As expected, the club’s key revenue streams have been hit hard by the pandemic. The accounts cover the year up to May 31, 2020, and they show a significant loss of matchday and media income as a result of the COVID-19 pandemic which covers the final three months of the published report. Liverpool’s total revenue stands at £490m that indicates a drop of £43m from last year. The loss can be attributed to a drop of £59m in media revenue and a drop of £13m in matchday revenue.
Andy Hughes
, Liverpool’s managing director, said:
“This financial reporting period was up to May 2020, so approaching a year ago now. It does, however, begin to demonstrate the initial financial impact of the pandemic and the significant reductions in key revenue streams.
“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.”
The club officials anticipate that the final cost of the pandemic will rise to £100m. The club will suffer a bigger financial blow if they fail to qualify for the next season’s Champions League.
“Importantly, what has remained constant throughout the pandemic is the club’s desire to support the local community and those who live in and around Anfield and across the city region. We have also worked closely with our city partners and provided unwavering support to the region’s public health departments in their drive to promote the important health messages across the region to help keep local people safe.
“More recently, we willingly made Anfield available to operate as a mass testing centre and now a vaccination hub with the incredible commitment and dedication of our Anfield staff.
“We can now look ahead to the conclusion of this season and hopefully a more normal start to next season. It’s no secret that supporters have been greatly missed at Anfield over the past year and we look forward to having them back.”
Liverpool currently sit sixth in the Premier League, four points below the Champions League qualification zone. The Reds will face
Manchester Unitedin their next Premier League match on May 2.
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