Liverpool has announced its "first profit in seven years," marking the financial turnaround under Fenway Sports Group after the "torrid period of ownership under George Gillett and Tom Hicks," according to Ian Herbert of the London INDEPENDENT. The club's revenue rose by 19% to £255.6M, with the increase in media revenue from the Premier League TV deal -- "integral to the uplift -- particularly pronounced because of the TV networks' desire to broadcast Liverpool games last season." Manager Brendan Rodgers' team was featured in live games so often that it delivered the club a "British record sum of money from central distribution" of TV money: £97M (INDEPENDENT, 3/2). In London, Andy Hunter reported the figures "also demonstrate" why Liverpool was last week "cleared of any financial fair play breaches" by UEFA, which had studied the club's books following the '12-13 losses plus a £40.5M loss in the 10-month period before then. Net debt grew from £12.2M to £57.3M "largely as a result of player transfers and transfer payments due during the period," but Liverpool’s overall debt has decreased from £237M when FSG took over in '10. Liverpool did not report the overall debt figure (GUARDIAN, 3/2). Also in London, Tony Barrett reported Liverpool CEO Ian Ayre maintained that the "overall financial
picture was healthy, with the expectation of further improvements to be made
in the next set of accounts" as the club benefits from "heightened commercial activity and Champions League revenue." Ayre: "We continue to make good financial progress. Although these results are
nearly 12 months old, they demonstrate that the transitional period we’ve
been through over the past four years has stabilized the club and provided a
platform for growth" (LONDON TIMES, 3/2).
