Covid19 impact: Liverpool accounts reveal £46m pre-tax loss
Liverpool has reported a £59m and match-day revenue by £13m in the first three months of the pandemic on Tuesday. The accounts reveal £46m pre-tax loss and early impact of Covid crisis. Reports Munia Iffat.
• Liverpool’s latest accounts have revealed a report that a £46million pre-tax loss for the financial year ending May 2020 which equates to an £88m negative swing from their position just over 12 months ago.
• Their Premier League season being suspended in March 2020 and completed behind closed doors in July.
• During this period four fewer Premier League home games meant match-day revenue declined by £13m to £71m.
• Managing director Andy Hughes 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 can now look ahead to the conclusion of this season and hopefully a more normal start to next season,” he added.
The loss of Liverpool’s was cushioned, however, by strong commercial performance. Eight new partnerships, sponsorship renewals with Nivea and Carlsberg, record sales of the new Nike home kit and new retail stores in Thailand, Singapore and Vietnam helped increase commercial revenue by £29m to £217m.
Liverpool has reported a £59m and match-day revenue by £13m in the first three months of the pandemic on Tuesday. The accounts reveal £46m pre-tax loss and early impact of Covid crisis. Reports Munia Iffat.
• Liverpool’s latest accounts have revealed a report that a £46million pre-tax loss for the financial year ending May 2020 which equates to an £88m negative swing from their position just over 12 months ago.
• Their Premier League season being suspended in March 2020 and completed behind closed doors in July.
• During this period four fewer Premier League home games meant match-day revenue declined by £13m to £71m.
• Managing director Andy Hughes 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 can now look ahead to the conclusion of this season and hopefully a more normal start to next season,” he added.
The loss of Liverpool’s was cushioned, however, by strong commercial performance. Eight new partnerships, sponsorship renewals with Nivea and Carlsberg, record sales of the new Nike home kit and new retail stores in Thailand, Singapore and Vietnam helped increase commercial revenue by £29m to £217m.
Covid19 impact: Liverpool accounts reveal £46m pre-tax loss
Liverpool has reported a £59m and match-day revenue by £13m in the first three months of the pandemic on Tuesday. The accounts reveal £46m pre-tax loss and early impact of Covid crisis. Reports Munia Iffat.
• Liverpool’s latest accounts have revealed a report that a £46million pre-tax loss for the financial year ending May 2020 which equates to an £88m negative swing from their position just over 12 months ago.
• Their Premier League season being suspended in March 2020 and completed behind closed doors in July.
• During this period four fewer Premier League home games meant match-day revenue declined by £13m to £71m.
• Managing director Andy Hughes 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 can now look ahead to the conclusion of this season and hopefully a more normal start to next season,” he added.
The loss of Liverpool’s was cushioned, however, by strong commercial performance. Eight new partnerships, sponsorship renewals with Nivea and Carlsberg, record sales of the new Nike home kit and new retail stores in Thailand, Singapore and Vietnam helped increase commercial revenue by £29m to £217m.
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