Liverpool have reported a loss of almost £50million for the last financial year as a result of failed new stadium costs and pay-offs to former manager Roy Hodgson and other staff.
Despite owners Fenway Sports Group wiping out debts of £200m with their October 2010 purchase of the club, they had to write off a further £35m associated with the doomed HKS-designed Stanley Park project of predecessors Tom Hicks and George Gillett.
And Hodgson's exit in January 2011, after just 191 days in charge, and the departure of former managing director Christian Purslow, contributed to a further £8.4m relating to contract terminations, accounts filed to Companies House show.
Copyright (c) PA Sport 2012, All Rights Reserved.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: https://www.givemesport.com/writeforgms