Liverpool debt rises to $130M as team struggles
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.