Liverpool managing director Ian Ayre expects more investment
Liverpool's managing director Ian Ayre is looking forward to more money being invested in players instead of paying off debt now the club's finances are on a more even keel.
The Reds' accounts, published later today, show they made a £20million loss for the 12 months ending July 2010 - the last full year of the reign of former owners Tom Hicks and George Gillett.
However, since then there have been huge developments with Fenway Sports Group buying Liverpool in October, paying off £200million of debt.
And the accounts also do not include income from the record £80million, four-year shirt sponsorship deal with Standard Chartered agreed last summer.
The figures reveal revenues rose to £184million in the last financial year, but net debt increased to £123million, incurring interest payments in excess of £17million.
But Ayre said the arrival of FSG meant everyone was now optimistic about the health of the club both on and off the field.
"As much as we are all aware of the difficult circumstances surrounding these accounts and that period in the club's history, everyone in the world can now see just how much has since been achieved," he said.
"Since the end of the last financial year, FSG has paid off £200million of acquisition debt from the previous owners, dramatically reducing interest payments as a result and meaning we are able to invest more revenue in the team rather than servicing debt.
"We have also enjoyed significant commercial growth since these accounts were finalised, including our shirt sponsorship deal with Standard Chartered, which was the largest partnership contract in the club's history.
"On and off the pitch since the end of the last financial year, the picture is an improving one as we focus on growing profitability and strengthening the first, reserve and academy operations.
"We had an extremely successful January transfer window which saw the ownership and management teams working closely to bring in some high quality players.
"The club is now in an excellent position to move forward and all of us can approach the future with optimism."
The Microsoft mogul told fans a few home truths during his Reddit AMA
First full-length look is finally here
World cities ranked in terms of safety, food security and 'liveability'
Latest in Sport
Brooklyn Beckham poses in Arsenal training kit following rumours of signing for the Gunners
Manchester United transfer news and rumours: David De Gea could leave for FREE; £38m for Marquinhos; £37m bid for Mats Hummels;
Transfer news LIVE: Manchester United to make £37m Mats Hummels bid; Inter plan Yaya Toure move; Shola Ameobi joins Crystal Palace
Australian Open 2015: Novak Djokovic vs Stan Wawrinka match preview
Danny Ings to Liverpool: The Reds attempt to steal a march on rivals in race to sign Burnley striker
- 2 The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Baldness could soon be treated using stem cells, scientists hope
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures