Liverpool announce Â£46m pre-tax losses amid Covid-19 crisis
Liverpool’s accounts for the 2019/20 season have been released, revealing a £46 million loss amid the Covid-19 crisis which has paralyzed world sports.Last season, Liverpool won their first Premier League title, accumulating 99 points – the second-most in the league’s history.But funds gained from their win has not been enough to curb the impact of the COVID-19 crisis as most games were played behind closed doors, severely reducing matchday and media revenue.Liverpool’s media revenue decreased by £59m during the first three months of the pandemic, while their matchday revenue suffered a drop of £13m. Overall, their income decreased by £43m, leading to a pre-tax loss of £46m.However, the club managed to boost their commercial revenue by £29m as a result of new partnerships deals being signed, renewals with Nivea and Carlsberg, record sales of the club’s Nike kit, and new retail stores in Singapore, Vietnam, and Thailand.It is estimated that the pandemic has cost Liverpool around £120m in revenue. The post Liverpool announce 46m pre-tax losses amid Covid-19 crisis appeared first on Linda Ikeji Blog.
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