Sports
Liverpool Announces $42m Pre-Tax Profit
Liverpool has announced pre-tax profits of £42million for the financial period ending May 31, 2019, despite a club-record spend on players.
The club’s turnover increased by £78m to £533m thanks to rises in media, commercial and match revenue.
A new Champions League broadcasting deal and the team’s second-place finish in the Premier League under Jurgen Klopp last year also boosted profits.
Their Champions League triumph in 2018-19 is expected to be included in the next set of financial results.
The positive figures come despite a club-record £223m spend on the signings of Alisson, Naby Keita, Fabinho and Xherdan Shaqiri, as well as 11 new contracts for established first-team players.
Liverpool, who became champions of Europe for the sixth time last June, are seventh in the Deloitte Football Money League, a rise of two places from the previous financial year.
Andy Hughes, Liverpool’s chief operating officer, said via the club’s website: “This continued strengthening of the underlying financial sustainability of the club is enabling us to make significant investments both in player recruitment and infrastructure.
“Being able to reinvest over £220m on players during this financial period is a result of a successful business strategy, particularly the significant uplift in commercial revenues.
“The cost of football, however, does continue to rise in transfers and associated fees but what’s critical for us is the consistency of our financial position, enabling us to live within our means and continue to run a sustainable football club.”
The club have also boasted of six million more social media engagements than any other Premier League club during the 2018-19 season, while they say investment in the new training base at Kirkby and further planned expansion of Anfield is testament to the support of owners Fenway Sport Group.
“What we’re seeing is sustained growth across all areas of the club, which is aligned to the recent performance on the pitch,” said Hughes. “There is more work to do and importantly, we will continue our dialogue with all key stakeholders, including local residents, businesses and community groups.
“These financial results and this sustained period of solid growth is testament to our ownership, Fenway Sport Group, who continue to support the club’s ambitions.
Victory for the Super Eagles in Casablanca followed the disappointment of losing shoot-outs that cost them chances to compete at the 2026 World Cup and in the 2025 AFCON final.
Nigeria lost on penalties to the Democratic Republic of Congo last November in a play-off for a place in the World Cup intercontinental play-offs.
Then, three days ago, they lost another shoot-out to fail against hosts Morocco in an AFCON semi-final.
Success maintained a perfect Nigerian record in third place AFCON matches after seven previous play-offs victories.
Before Lookman scored, Fisayo Dele-Bashiru missed the Eagles’ first kick, then Akor Adams, captain Moses Simon and Alex Iwobi scored.
Premier League pair Mohamed Salah and Omar Marmoush both had kicks saved by Stanley Nwabali before Ramy Rabia and Mahmoud Saber scored.
Egypt made six changes and Nigeria five to the teams that started semi-final losses to Senegal and hosts Morocco respectively three days ago.
Captain Salah started for the Pharaohs while traditional first choices in goalkeeper Mohamed El Shenawy and forward Marmoush were among the substitutes.
Attackers Victor Osimhen and Lookman, both former winners of the annual African player of the year award, sat on the bench for Nigeria.
Most Moroccans in a crowd that nearly filled the 45,000-capacity Stade Mohammed V backed Nigeria. They whistled whenever Egypt gained possession and when coach Hossam Hassan was shown on the big screen.
This support for the Super Eagles was attributed to the great rivalry between Morocco and Egypt, both at national team and club levels.
– Goals disallowed –
Nigeria initially, then Egypt had spells of dominance in a goalless opening half on a cold, cloudy evening in the Moroccan commercial capital.
Paul Onuachu thought he had broken the deadlock on 36 minutes as he deflected the ball with his head past goalkeeper Mostafa Shobeir.
However, a VAR review by the Moroccan referee revealed Onuachu had accidently struck Hamdy Fathy with an elbow. The goal was disallowed and the Nigerian yellow-carded.
Lookman was introduced by coach Eric Chelle for the second half, replacing Onuachu, and he had the ball in the net in the opening minute of the second period. However, the goal was ruled out for offside.
Nigeria started after the break with a series of attacks. Following a largely uneventful first half, Shobeir — the son of former Egypt goalkeeper Ahmed Shobeir — was forced to make several saves.
Salah seldom threatened and when he did cut in with the ball, the potential danger was quickly averted. Marmoush came on as the play-off passed the hour mark to try and boost a blunt strike force.
But as the match entered the final 10 minutes there was no sign of Osimhen being brought on, suggesting he might not have been fully fit.
In quick succession, Adams, then Marmoush threatened to score, but neither could deliver the finishing touch under pressure from opponents.
Salah then disappointed when offered a scoring opportunity from a free-kick outside the box. He hit the ball straight into the wall and it was swiftly cleared.
In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, on Saturday, the President praised the team for their resilience and professionalism, noting that the players rose above the disappointment of their semi-final defeat to hosts Morocco earlier in the week to finish the tournament strongly.
The Super Eagles secured third place after overpowering Egypt, a seven-time AFCON champion, in the bronze medal match.
Nigeria dominated proceedings during regulation time before edging their opponents in a tense penalty shootout.
President Tinubu said the victory was a clear reflection of the determination and can-do spirit that define Nigeria, describing the team’s response to adversity as exemplary.
“Despite their good run during the tournament, the Eagles lost the semi-final match to Morocco during the penalty shootout last Wednesday, and our people’s hopes of winning the championship were dashed.
“However, our players remained undaunted, and exhibiting the resilience of the Nigerian spirit, their efforts have now paid off”, the President said.
The President noted that Nigerians would take pride in seeing the team receive their medals at the official ceremony on Sunday in Rabat, where the tournament is being concluded.
“We will all be proud of them as they receive their hard-earned bronze medal. Thank you, our gallant Super Eagles. Thank you, our national team players. This bronze medal surely feels good like gold”, he added.
The Cottagers have been without their Nigerian trio since they departed for the tournament in Morocco, with all three in excellent form and integral to Silva’s starting lineup prior to their departure.
Despite their absence, Fulham have fared remarkably well, losing just one of their last seven games in all competitions while playing without the Nigerian contingent.
The players are expected to return to West London shortly, as Nigeria conclude their campaign against Egypt in the third-place match on Saturday.
“This is the last game the three players at AFCON will miss,” Silva said, according to Jack Kelly.
“When you have all the squad available, you’re going to be stronger as a team. Like when Kenny, King or Muniz will be back – they will be very important for us.”
The defeat to Leeds leaves Fulham 10th in the Premier League table with 31 points as they head into the final four months of the season.
After the third-place playoff, Bassey, Iwobi and Chukwueze are expected to leave Morocco together immediately and should be available for Fulham’s game against Brighton at Craven Cottage on January 24.
-
Sports2 days agoTinubu Lauds Super Eagles’ after AFCON bronze triumph
-
Sports2 days agoAFCON: Lookman gives Nigeria third place
-
Sports2 days agoFulham Manager Eager To Receive Iwobi, Others
-
News2 days agoSERAP Sues Govs, FCT Minister Over Security Vote Spending
-
Sports2 days ago“Mikel’s Influence Prevent Some Players Invitation To S’Eagles Camp”
-
Niger Delta2 days agoINC Polls: Ogoriba Pledges To Continuously Stand For N’Delta Rights … Picks Presidential Form
-
Editorial2 days agoBeyond Accessing Bonny By Road
-
Sports2 days agoMan of The Match award Excites Nwabali