Featured image credit: Jonny Gios on Unsplash
Liverpool has reported a record pre-tax loss of £57m (€69m/$71.8m) in its latest annual financial results, but has pointed to the successful introduction of the new Anfield Road Stand as matchday revenue increased significantly.
The Premier League club’s overall loss for the year ending May 31, 2024 comes despite it passing the £300m commercial revenue barrier for the first time. Overall revenue rose by £20m year-on-year to £614m, with commercial revenue accounting for £308m of this, an increase of £36m.
The new Anfield Road Stand, a project that came with a price tag of around £90m, opened in the reporting period and a higher number of competitive games played at Anfield contributed to a £22m increase in matchday revenue, to £102m.
Following the redevelopment of the Anfield Road Stand, the stadium’s overall capacity has been expanded to 61,276 for the 2024-25 season. Work commenced on the Anfield Road Stand project in September 2021 but the expansion was hit by delays after Buckingham Group Contracting, which had been leading the redevelopment, entered administration in September 2023.
The project has increased the capacity of Anfield from 54,000, but the delays meant that the stadium operated at a reduced capacity of 51,000 at the start of 2023-24. A phased reopening of the stand was eventually announced in December 2023.
A new record league attendance was registered at Anfield on January 25 as Liverpool defeated Ipswich Town 4-1. With 60,420 at the stadium to watch the Premier League fixture, the club’s highest home crowd figure in league football increased again.
Record league attendances have been achieved on multiple occasions since the expansion of the Anfield Road Stand. The club’s all-time record home attendance in any competition remains the 61,905 fans present to watch an FA Cup clash with Wolverhampton Wanderers in 1952.
Liverpool’s LFC Membership scheme grew to more than 250,000 supporters during last season, which is a club record from the previous season. However, despite the increase in revenues, administrative costs increased significantly to £600m, which Liverpool said was mainly related to salaries and overhead costs across the club, supporting the increase in commercial revenues and the increased number of matchdays compared to the prior period.
Jenny Beacham, Liverpool’s chief financial officer, said: “Operating a financially sustainable club continues to be our priority and, with the continued increase in costs, it’s essential to grow income streams year on year to maintain financial stability.
“The success of our commercial operations, together with the opening of the new Anfield Road Stand, has increased our revenues during this reporting period, which demonstrates our desire to continue to compete at the highest levels of football in the men’s and women’s games.
“The global appeal of this football club continues to be phenomenal and is the underlying strength and opportunity we have for continued growth. We also take our social responsibilities seriously, using our global appeal to increase our community impact and sustainability efforts, in which we are leading the way across the football industry.
“We will continue to operate in accordance with football’s financial rules and regulations while maintaining investment opportunities in our operations, infrastructure and players.”
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