Liverpool's accounts for the year up to the end of May 2020 have shown how the initial stages of the coronavirus pandemic caused a hit to the reds finances.
The long awaited Premier League coronation was delayed until last summer after football was halted in England in the middle of March.
The reds suffered an obvious loss of matchday income as well and a more significant delay in Premier League money.
Media revenue fell by £59M to £202M and matchday revenue dropped by £13M to £71M (a combination of 4 empty Premier League games and a failure to advance further in the Champions League). With almost the entire 2020/21 season affected by empty stadiums this figure is likely to be the hardest hit in the current season's accounts.
However, the club saw a rise in commercial income - in part due to the huge success of the final New Balance shirt in which the club captured the Premier League title for the first time since 1990. A number of new sponsorship agreements were also initiated in the period.
In total, and primarily due to Premier League payment delays, the clubs income fell from £533M to £490M.
Andy Hughes, LFC's managing director, added:
“This financial reporting period was up to May 2020, so approaching a year ago now. It does, however, begin to demonstrate the initial financial impact of the pandemic and the significant reductions in key revenue streams. We were in a solid financial position prior to the pandemic and since this reporting period we have continued to manage our costs effectively and navigate our way through such an unprecedented period.
“Importantly, what has remained constant throughout the pandemic is the club’s desire to support the local community and those who live in and around Anfield and across the city region. We have also worked closely with our city partners and provided unwavering support to the region’s public health departments in their drive to promote the important health messages across the region to help keep local people safe.
With full stadiums expected from the start of the 2021/22 season, Liverpool will be hoping this is a temporary blip.
However, failing to qualify for the Champions League could extend any financial pain for the club. The reds left it until the end of January to bring in defensive cover in the form of on-loan Ozan Kabak and a low cost signing of Ben Davies from Preston, who has yet to appear in a Liverpool shirt.
Liverpool's UEFA Champions League winning season in 2019 brought in approximately £100M in UEFA money.
