Business

Liverpool posts a loss of $81m after write-off

LONDON - Liverpool had a 2011 fiscal year loss of about $81 million as the English Premier League soccer club wrote off the costs of plans for an unbuilt stadium.

Fenway Sports Group, owner of the Boston Red Sox, bought the English team in October 2010 and wrote off about $323.8 million of debt owed by its former owners, Liverpool managing director Ian Ayre said Thursday in a preliminary release of the results on the club’s website.

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The annual loss will be $79.3 million to $80.9 million, mostly from the design for a 70,000-seat stadium that won’t be built and the firing of manager Roy Hodgson, he said.

“That particular design and stadium is not a viable project for the club, although there was a lot of cost associated with it,’’ Ayre said.

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“It’s important for us to move on from that and move it off the accounts.’’

The club is going back to an original stadium design that already has planning permission, he said.

Liverpool is eighth in the Premier League, with two games remaining in its season.

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