Liverpool F.C.’s Chief Operating Officer: “We’re Making Solid Progress Across the Club...”

Liverpool Football Club announce their annual financial results for the year to May 31, 2018

Liverpool F.C. announced its annual financial results today for the reporting period for the year to May 31, 2018.

One of the focal points from the financial statements is that player transfers brought in GBP 137 million and that amount plus further investment was reinvested back into the squad which took the total outlay on new players to a record in excess of GBP 190 million.

Mohamed Salah, Virgil van Dijk, Andy Robertson, Alex Oxlade-Chamberlain and Dominic Solanke all came in while Philippe Coutinho, Mamadou Sakho, Lucas Leiva and Kevin Stewart all left the club. Fenway Sports Group has continued their commitment to improving the squad, with Naby Keïta, Fabinho, Xherdan Shaqiri and Alisson Becker coming into the club.

The club’s three revenue streams, namely media, commercial and match revenue all saw increases during the reporting period with media revenue increasing by GBP 66 million to GBP 220 million, commercial revenue by GBP 17 million to GBP 154 million and match revenue increasing by GBP 7 million to GBP 81 million. Liverpool did not participate in any European competitions during the 2016-17 season and thusly, these revenue increases have been result of Liverpool qualifying for the Champions League and the subsequent games leading up to the final.

Liverpool’s Chief Operating Officer, Andy Hughes said, “What we have seen is a stable and sustained improvement in the club’s financial position over recent years. This growth and increase in revenue has enabled us to significantly reinvest both in the playing squad and the football operational infrastructure.”

He went on, “Since the reporting period, which is now nearly 12 months old, we have continued reinvesting in the playing squad from those areas of growth. In addition, the capital investment in our new training complex in Kirkby is well under way which will provide first-class amenities for our players and staff, and will vastly improve sports facilities for the community of Kirkby.”

With all three main revenue streams increasing on the previous financial year, Liverpool has moved up two places to seventh position in the Deloitte Football Money League.

LFC has become one of the fastest-growing football clubs on social media, with 27 million fan interactions on taking place on Twitter during the reporting period as well as the club gaining three million followers on Instagram. The club now has a total of over 60 million followers across all the social media platforms and has had a 14 percent growth rate. Liverpool also had the highest viewing figures for a Premier League club and the third highest of any sports club globally, on YouTube during May 2018.

According to Hughes, “We’re making solid progress right across the club. Costs in football continue to rise year on year and it’s important we constantly review and manage our operating costs to ensure we’re in the right shape for future success. With the continued support of our ownership group, performance on the pitch and maintaining our priority of reinvesting back into the squad, we remain focused towards fulfilling all our football ambitions.”

May the success off the pitch continue to drive success on the pitch for many more years to come.

Up the Reds!

Source: liverpooloffside.sbnation.com