Liverpool reports losses of $64M as pandemic takes effect

LIVERPOOL, England: Liverpool reported a pre-tax loss of 46 million pounds ($64 million) for the last financial year, mainly because of the impact the coronavirus outbreak had on the English champion’s media revenue and matchday income.

The losses for the financial year ending May 2020, a period covering the first three months of the pandemic when the Premier League was suspended, equated to a negative swing of 88 million pounds ($122 million) from Liverpool’s position a year ago. Media income dropped by 59 million pounds ($82 million) and the four fewer Premier League home games during this period saw matchday revenue decrease by 13 million pounds ($18 million).