We might not be performing too well on the pitch at the moment, but off the pitch we are absolutely flying.
Our financial department revealed our annual results on Tuesday evening, and it’s great news – we made record a profit of £60 million, a scarcely-believable £59 million more than two seasons ago (via Echo). The figure takes account of the period from June 1st 2014 to May 31st 2015.
Last season was the first time in seven years in which we had recorded a profit, so to see such a large jump one year later is a fantastic achievement on FSG’s behalf.
Although much of that money was a result of the Suarez sale (which has already been reinvested), Chief Executive Officer Ian Ayre has said that this season’s figures are looking equally encouraging, and Klopp will be heavily backed in the summer.
“We are very fortunate in that everything we generate goes back into the team. There has never been a situation where we haven’t backed the manager and there will be no difference with Jurgen as we move forward towards the summer,” he said.
“We aim to generate profits certainly in this football club and under these owners to completely reinvest. Of course every time you make more profit you are going to invest more back.
“That was evident in these results as we made £60m and the money all went back into the squad which was invested in last summer. There is no extraction of any of that profit in any form.
“I think to fit the ambition of the club and the owners we think it is important to be financially in good health and yes we think this is a good set of numbers.” (via Mirror).
The figures also revealed that FSG had paid down a further £69 million of old residual debt out of their own pockets, taking the debt of the club to almost zero.
They converted it into equity, meaning they will never see that money again unless they eventually sell the club. Full credit to them.
Here are some of the key takeaways from today’s announcement:
- Revenue increased by 16.5% to £297.9m
- Media revenue increased by 21.5% to £122.6m
- Commercial revenue increased by 12% to £116.3m
- Match day revenue increased by 15.9% to £59.0m
- Profit before tax for was £60.0m compared to £0.9m in 2014
- FSG converted £69m of debt into equity and invested £49m for stadium expansion costs