Liverpool’s debt rises to £86million

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Liverpool Football Club’s debt has doubled in the last year and now stands at £86million, although the club have made profit this year after losses the previous year.

The news may come as worry to Liverpool fans, although increased revenue from commercial and matchday income shows the club’s fortunes may be looking up.

The report shows that the club made a pre-tax profit of £10.2million for the year leading up to the end of July 2008.

The figures also show that co-owners Tom Hicks and George Gillett invested a further £58million into the club.

It’s understood that some of this money was used in the transfer market for players, whilst the rest was part of the refinancing deal for the loan the Americans took out from the Royal Bank of Scotland to purchase the club.

Hicks and Gillett looks set to be given a six-month extension to their current loan deal in the coming weeks.

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