Posted: Monday March 4, 2013 11:45 AM

Liverpool debt rises to $130M as team struggles

Decrease font Decrease font
Enlarge font Enlarge font

LIVERPOOL, England (AP) - Liverpool's debt rose by a third to more than $130 million after spending on players who have failed to re-establish the club as a power.

Liverpool, owned by the parent company of the Boston Red Sox, is seventh in the Premier League and no closer to returning to Champions League for the first time since 2009-10 season.

Figures released Monday showed that Liverpool's debt rose to 87.2 million pounds (about $131 million) between Aug. 1, 2011 and last May 31.

Liverpool managing director Ian Ayre says "net debt comes largely as a result of our activity around player trading.''

Liverpool reported a loss of 40.5 million pounds (about $61 million) in the accounts covering a 10-month period, in line with the losses in the previous full financial year.
Hot Topics: NBA Playoffs NHL Playoffs NFL schedule LaMarcus Aldridge Michael Pineda Phil Jackson Tiger Woods
TM & © 2014 Time Inc. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Read our privacy guidelines, your California privacy rights, and ad choices.
SI CoverRead All ArticlesBuy Cover Reprint