Kenny Dalglish’s hefty bill as Liverpool lose £40m

 
4 March 2013

The huge cost of sacking Kenny Dalglish and his management team contributed to Liverpool losses of £40.5million last season, it was revealed today.

Liverpool released their accounts for August 1 2011 to last May, which showed the club spent £9.6m on axing Dalglish, his staff and others.

The club legend’s second spell in charge also proved very costly in terms of transfers as big spending in the summer of 2011 fuelled the losses.

In particular, significant instalments on the transfers of Jordan Henderson, who cost £16m from Sunderland, and Stewart Downing (above), a £20m buy from Aston Villa, were paid.

The spending coincided with Liverpool’s absence from European football for the first time since the 1999‑2000 campaign.

As a result, they recorded a heavy loss on turnover of £169m, sending overall debt up by £22m to £87.2m.

Managing Director Ian Ayre told the Liverpool Echo: “Nobody in a position of authority would say it is a good set of accounts where you lose money in any business. But you have to take them in the context of the place that we are — in the journey we are on.”

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