Managing director Ian Ayre says Liverpool are making "good progress" under Boston-based owners Fenway Sports Group despite the latest club accounts showing an increased overall debt.
The Reds’ total debts -- known as net debt -- in the 12 months to May 31, 2013 rose to 114 million pounds from 87.2 million pounds.
But crucially, external debt, consisting of money owed to banks, went down to 45.1 million pounds from 65 million pounds -- a reduction of 19.9 million pounds.
That was largely due to an interest-free loan of 46.8 million pounds made to the club via Fenway during 2012-13.
It means that even though Liverpool’s overall debt has increased, more than 60 percent of that money is now owed to Fenway rather than the banks -- up from 25 percent in 2011-12 -- which Ayre said has put the club on a sounder financial footing.
Liverpool’s bank debt has been reduced by more than 200 million pounds since Fenway took control of the club from Tom Hicks and George Gillett in October 2010.
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