REVEALED: Liverpool are still planning to sign RB Leipzig defender Ibrahima Konate for Â£40m this summer despite the Merseyside club announcing pre-tax losses of Â£46m for this financial year
Liverpool remain on course to sign Ibrahima Konate from RB Leipzig this summer in a Â£40million transfer, despite posting a Â£46m pre-tax loss in their accounts on Tuesday.
The Reds are prepared to trigger the buy out clause for the 21-year-old French centre-back once Leipzig finish their Bundesliga season.
Owners Fenway Sports Group are continuing to invest in Jurgen Kloppâ€™s squad despite accounts indicating the total cost of the pandemic to be around Â£120m and rising.
Liverpool still plan on signing Ibrahima Konate for Â£40m despite announcing a Â£46m tax loss
The Reds uploaded their accounts up to May 2020 and predicted the cost of the pandemic is set to rise beyond Â£120m
The accounts cover the year up to May 31 2020, of which only the final three months were affected by Covid-19.
Overall revenue stands at Â£490m, a drop of Â£43m from last year.
That can be attributed to a drop of Â£59m in media revenue with the league season, having extended into July due to the pandemic, and a drop of Â£13m in match day revenue with the final four home games of last season played behind closed doors.
Commercial revenue rose by Â£29m to Â£217m thanks to new partnerships and retail growth, notably record-breaking sales of last seasonâ€™s home shirt.
John W Henry still plans on investing in the squad despite the losses announced on Tuesday
Liverpoolâ€™s wage bill has risen to Â£325m with only Manchester City (Â£351m) paying more in terms of Premier League clubs.Â
Much of Liverpoolâ€™s increase is down to bonus payments made to players due to the clubâ€™s on-field successes â€“ the Champions League triumph of 2019, as well as the European Super Cup and FIFA Club World Cup victories.
Liverpool expect to sell Divock Origi and Xherdan Shaqiri as they continue to re-shape their squad this summer.