Liverpool report annual loss of £40.5m

Liverpool have reported a £21.8million increase in their debt – now £87.2million overall – and a loss of £40.5million in their annual accounts. A restructuring of their accounting period to align it with the football season means the figures apply to the 10 months between August 1, 2011 to May 31, 2012. They show that although commercial revenue increased, so did the club’s overall liabilities.… Read more

David Gill to step down as Manchester United chief executive

Manchester United chief executive David Gill has announced he will step down from the club in June this year, with executive vice chairman Ed Woodward taking over his role at Old Trafford. The 55-year-old joined the board in February 1997 as finance director, and has been in his current role at Old Trafford since September 2003. He will however remain as a director at the… Read more