Liverpool FC have posted a £40m pre-tax loss in their latest annual results.
The club, which have released their results for the ten months to 31 May 2012, recorded a loss of £40.5m compared with a pre-tax loss of £49.3m in the year to 31 July 2011.
Net debt at the club has risen from £65.4m to £87.2m at the end of May 2012 which it attributed to £29.8m increase in net bank debt less a £8m decrease in intercompany debt.
Parent company UKSV Holdings injected £46.8m into the company via a non-interest bearing intercompany loan which was used to repay fully the £37.8m outstanding amount on a stadium loan with the remaining £9m used to repay part of the revolving credit facility.
Total revenue for the ten-month period was £169m, compared with £183.6m in 2011.
Among the player signings during the period were Jose Enrique and Craig Bellamy while Raul Meireles and Joe Cole were among those sold or loaned out.
Media revenue during 2011/12 was £62.8m but a decrease from a complete lack of European of football was offset by lengthy runs in domestic cup competitions which saw the club win the Carling Cup and lose the FA Cup Final to Chelsea.
Matchday revenue for 2011/12 was £42.3m, up from £40.9m, which was boosted by the two cup runs.
Ian Ayre, the club's managing director, said: "We are focused on building a solid and sustainable operating platform from which to build on and further strengthen what we started with Fenway Sports Group over two years ago.
"During the period, we were delighted to partner new global brands and extend our existing partnerships as we continue to focus on successfully growing our commercial potential both at home and overseas.
"We also reviewed our approach to the transfer market in order to ensure we bring in talented players on sensible contracts that provide value to the club."
In October, the club brought to an end years of speculation about moving to a new stadium or sharing with neighbours Everton when they announced they would redevelop Anfield Stadium.