Liverpool FC registered loss of 50 million pounds last year

London, May 4(ANI): Liverpool FC has reported a loss of around 50 million pounds for the last financial year, which mostly includes failed new stadium costs and pay-offs to former manager Roy Hodgson and other staff.

Liverpool owners Fenway Sports Group wiped out debts of 200 million pounds with their October 2010 purchase of the club, but were forced to write off a further 35 million pounds associated with the doomed HKS-designed Stanley Park project of predecessors Tom Hicks and George Gillett.

Hodgson's departure in January 2011, after just 191 days in charge, and the exit of former managing director Christian Purslow, added to a further 8.4 million pounds relating to contract terminations, accounts filed to Companies House show.

"I guess people will focus on the loss of 49.4 million pound and there's no business - or people running any business - who are going to be pleased with any loss," The Telegraph quoted Liverpool's managing director Ian Ayre , as saying.

"But I think the important indicator here is this 59 million pound charge for exceptional items and as a business that's been in a transition, it's about moving from where we were to where we want to be," he added.

"We have written off a huge amount on the stadium project. A big chunk of that 50 Million pounds loss relates to the HKS project - which is now defunct - and associated costs around that,' he said. (ANI)