Wednesday, March 21, 2018

Suarez windfall already spent but Liverpool to back Klopp

SoccerNews in English Premier League 1 Mar 2016


The sale of Luis Suarez to Barcelona in 2014 has helped Liverpool to post a record profit of £60m in their latest set of financial results.

And although the huge fee that took the Uruguay international to Camp Nou has already been spent, the club has pledged to back manager Jurgen Klopp heavily in the transfer market.

Anfield crowd favourite Suarez joined Barcelona for a fee reported to be in the region of £75m, going on to form an irresistible forward trident with Lionel Messi and Neymar.

While Liverpool have failed to scale the heights on the field since the Uruguayan’s departure, their financial figures for the year until May 31, 2015 are healthy as a consequence of his big-money transfer.

Owners Fenway Sports Group (FSG) have increased revenue year-on-year since taking over in October 2010 and Tuesday’s figures revealed they have converted £69m of debt into equity while investing £49m in the initial costs of expanding Anfield.

Revenue is up 16.5 per cent to £297.9m, including a 21.5 per cent increase in media revenue to £122.6m. Commercial and matchday revenue are also on the rise, with the overall pre-tax profit up considerably from £900,000 in 2014.

Liverpool chief executive Ian Ayre believes Klopp and the first-team squad will reap the benefits of what he described as “a good set of numbers”.

“There has never been a situation where we haven’t backed the manager and there will be no difference with Jurgen as we move forward towards the summer,” he said.

“Those discussions will go on and we will do what we need to do on his guidance and contribution. Everyone can expect what they have always seen to date with the club, which is to give the manager the support he needs.

“We are very fortunate in that everything we generate goes back into the team and you cannot spend any more than you generate and then some.

“We have seen in these results the owners have injected further cash into the business for our stadium and written off some money. The support is there as it has always been.”

Ayre added: “Last year we saw a small profit for the first time in seven years, which demonstrated our recent progress.

“This year the profit reported has significantly increased, which is mainly a result of the sale of Luis Suarez in July 2014 and that has already been reinvested into the playing squad.

“Our real financial position is closer to break even and it is the underlying revenue growth that’s important and provides us with the long-term stability.”


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