Liverpool Admit A Loss of Roughly £50 million

Liverpool have announced that over the last financial year they have lost an estimated £50 million, which shows just how big their new stadium project is.

When current owners Fenway Sports Group took over at the club in October 2010, they first had to write off £200 million of debts. They then had to pay £35 million towards the abandoned Stanley Park, as well as this they had to pay another £8.4 million due to contract terminations.

"We have written off a huge amount on the Stadium Project. A big chunk of the £50 million loss relates to the HKS Project, which is now defunct, and associated costs around it" said owner Ian Ayre.