'Future bright despite losses'

The end of year accounts, which will be published at Companies House later today and cover the period August 2009 to July 2010 under the ownership of Tom Hicks and George Gillett, show revenues rising to £184m, but net debt increasing to £123m and incurring interest payments of £17m.

However, the purchase of the Club by Fenway Sports Group in October 2010, three months after the period these accounts cover, has heralded the start of a bright new era at Anfield, with considerable positive change already evident both on and off the pitch.

"As much as we are all aware of the difficult circumstances surrounding these accounts and that period in the Club's history, everyone in the world can now see just how much has since been achieved," said Ayre.

"Since the end of the last financial year, Fenway Sports Group has paid off £200m of acquisition debt from the previous owners, dramatically reducing interest payments as a result and meaning we are able to invest more revenue in the team rather than servicing debt.  We have also enjoyed significant commercial growth since these accounts were finalised, including our shirt sponsorship deal with Standard Chartered, which was the largest partnership contract in the Club's history.

"On and off the pitch since the end of the last financial year, the picture is an improving one as we focus on growing profitability and strengthening the First, Reserve and Academy operations.  We had an extremely successful January transfer window which saw the Ownership and management teams working closely to bring in some high quality players. 

"We have also focussed on reducing the average age of our squad and are delighted with the progress of a number of our younger players who have come through our revamped Academy operation. 

"The Club is now in an excellent position to move forward and all of us can approach the future with optimism. "