Liverpool’s matchday revenue fell by £13m (€15m/$18.1m) to £71m for the year ending May 31, 2020 as a result of the COVID-19 pandemic, with the Premier League club posting an overall loss before tax of £46m.
Liverpool has today (Tuesday) released its results for the 2019-20 financial year, the final three months of which were severely impacted by the pandemic. As well as a drop in matchday revenue, Liverpool’s media revenue fell by £59m to £202m, although commercial revenue increased by £29m to £217m.
Overall revenue fell by £43m to £490m, resulting in a pre-tax loss of £46m. For the previous year, Liverpool posted a £41.9m profit.
The pandemic forced the Premier League season to be suspended in March 2020, resulting in four fewer home matches for Liverpool for the 2019-20 financial year. The season eventually resumed in June last year with matches held behind closed doors as Liverpool secured the Premier League title.
The wider impact of the pandemic on Liverpool will likely be felt in next year’s accounts, which will reflect an entire 12-month period without capacity crowds at Anfield.
The accounts have been released after Liverpool last week withdrew from the controversial European Super League breakaway competition, which would have included fellow Premier League sides Arsenal, Chelsea, Manchester City, Manchester United and Tottenham Hotspur, as well as Spanish LaLiga teams Atlético Madrid, Barcelona and Real Madrid, and Italian Serie A outfits AC Milan, Inter Milan and Juventus.
Premier League clubs withdrew from the project, which would have landed them each £300m per season, following widespread condemnation from fans and the UK government.
Liverpool is also planning significant expansion work at Anfield and in December submitted a planning application to increase the stadium’s capacity by around 7,000 to more than 61,000. The planning application centres on the expansion of the Anfield Road stand and includes a request from Liverpool to hold more concerts and major events at the stadium.
Andy Hughes, managing director of Liverpool, said: “We were in a solid financial position prior to the pandemic and since this reporting period we have continued to manage our costs effectively and navigate our way through such an unprecedented period.
“Importantly, what has remained constant throughout the pandemic is the club’s desire to support the local community and those who live in and around Anfield and across the city region. We have also worked closely with our city partners and provided unwavering support to the region’s public health departments in their drive to promote the important health messages across the region to help keep local people safe.
“More recently, we willingly made Anfield available to operate as a mass testing centre and now a vaccination hub with the incredible commitment and dedication of our Anfield staff. We can now look ahead to the conclusion of this season and hopefully a more normal start to next season. It’s no secret that supporters have been greatly missed at Anfield over the past year and we look forward to having them back.”