Premier League: Liverpool Vow To Spend After Declaring Profit.
Liverpool have promised to support boss Jurgen Klopp in the transfer market after their accounts returned to profit with a ยฃ39 million ($53 million, 44 million euros) surplus recorded in the latest financial results.
The Reds ran into a loss ofย ยฃ21 million for the year ending May 2016, but they profited from a ยฃ30 million increase in media revenue from the first year of the new three-season Premier League broadcast deal.
Liverpoolโs commercial revenue rose by ยฃ20 million thanks to 12 new sponsorship collaborations.
A first season for Anfieldโs expanded Main Stand saw match day revenue increase by ยฃ12 million to ยฃ74 million mainly as a result of increased hospitality sales.
Liverpoolโs overall revenue for the financial year to May 31, 2017 increased by ยฃ62 million to ยฃ364 million โ a sharp rise of 20.5 percent.
The figures do not take into account Liverpoolโs combined spend of ยฃ80 million on Mohamed Salah, Alex Oxlade-Chamberlain and Andrew Robertson last year.
Virgil van Dijkโs ยฃ75 million arrival from Southampton and Philippe Coutinhoโs ยฃ142 million sale to Barcelona โ both deals happened in January โ are also not included.
Although bank debt rose from ยฃ22 million to ยฃ67 million through spending on capital infrastructure and player recruitment, Klopp will be allowed to make more new signings when the transfer window reopens at the end of the season.
โPerformance on the pitch and the reinvestment in our squad is always a priority and following the clubโs record signing last month we will look to invest again in the summer,โ Liverpoolโs chief operating officer Andy Hughes said.
โProgress on and off the pitch is critical to the growth of this football club โ we all want success and everything weโre doing is geared toward fulfilling our football ambitions.โ
Meanwhile, figures up to November 30, 2017 show that Arsenal Holdings plc now has cash reserves of ยฃ137.6million โ up ยฃ37.1 million on their 2016 results.
However, Arsenalโs football turnover decreased ยฃ23.4 million after they failed to qualify for the Champions League and are instead competing in the less lucrative Europa League this season.
