Posted: Monday March 4, 2013 11:45 AM

Liverpool debt rises to $130M as team struggles

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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.

 
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