11 Jun 2008Liverpool drop £33m into red

Football Finance News | Football Supporters News | Football Technology and Stadia

The owners of Liverpool FC delved a massive £33 million into debt in 2007, figures have shown.

Kop Football Holdings Ltd (Kop) reported losses of £33 million at the year-end of July 31 2007 and what's more, the club itself is paying annual interest on a £64 million loan it received from Kop.

Much of the losses are due to loan repayments from buying the club and designing a new stadium, which currently has a doubtful future.

Steve Broomhead, the chief executive of the Northwest Regional Development Agency (NWDA), has voiced his concerns over the ability Liverpool has to develop a new stadium in Stanley Park.

If it cannot be proven that Kop owners Tom Hicks and George Gillet have the money to finish the proposed stadium then planning permission may be withheld.

Recently, Mr Broomhead told the Times that he was "not seeing any real progress in raising the money".

Fans have also been angry to hear that the pair racked up £1.5 million in expenses in just seven months, and hundreds have campaigned for the American owners to sell up and leave.

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