Wednesday, August 4 – 1982
The football world is left in disbelief this morning at the news that Liverpool made a loss last season. That loss in their financial year ending april 30 was made despite winning the European Cup in 1981 and the League and League Cup in 1982.
It is a chilling testimony to the game’s financial afflications which last week nearly claimed Midland giants Wolves. Even on-the-field success is not enough.
Liverpool’s loss was £154,758 after a profit of almost £60,000 in 1980/1.
Their accounts also reveal that the overall annual cost of running the club hit a new peak of £3,023,839 which represent a break-down of £60,000 a week to keep Anfield’s mighty dynamo ticking over.
Wages and bonuses accounted for £1,556,938 of that massive outlay – only two seasons’ after they first crashed through the £1 million mark. The rest was made up of transfer dealing, travelling, maintenance and sundries.
The wage payments represent 50 per cent of gate receipts in a season when Liverpool’s League attendance slumped from 37,500 to 35,000.
The rise in individual earnings is reflected in the fact that seven Anfield employees were paid more than £50,000 last year compared to one the previous season.
Three earned between £50,000 and £60,000; another three between £80,000 and £70,000 and one £70,000 plus. Four other earned between £45,000 and £50,000.
Liverpool chairman John Smith reveals in the annual report that plans for a new stand have now gone on ice. He said: “Unfortunately, our results on the field of play have not resulted in a corresponding improvement in financial attainments.
“The consequent loss of revenue, together with the declining prospects for the game as a whole, has convinced the board that it would be neither financially sensible nor justifiable to proceed with the project at the present time.”
But during the close season Liverpool have laid a new pitch and seated the Anfield Road end of the ground.
(Daily Express, 04-08-1982)