Liverpool reports £49.4m loss

Liverpool have reported a loss of almost £50m 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.