Premier League title chaser Liverpool has reported an annual loss of 50 million pounds ($83.6 million) for the year ending May 31, 2013, according to the club’s annual accounts. Though the club reported an operating profit of 15 million pounds ($25.1 million), it was pushed into the heavy loss department thanks to being forced to write down players’ contracts, 13 million pounds ($21.7 million) of losses on the sale of players, and an accounting requirement.
According to the Guardian, the 50 million loss puts the club in jeopardy of breaching UEFA’s financial fair play rules, which state that a club’s combined losses for the two-year period prior to next season’s European competitions should not exceed 37 million pounds ($78.4 million). UEFA is set to assess European clubs’ finances in the next two months.
Liverpool refused to comment on whether it could be considered in breach of financial fair play, but said that its figures show that it is making “good progress” financially. "These results demonstrate that the financial health of the club continues to make good progress," managing director Ian Ayre told the Liverpool Echo. "We have taken a measured approach to bring back financial stability to this great club by ensuring it is properly structured on and off the pitch."