Liverpool football club's debts have increased by £21.8 million to £87.2 million and recorded a loss of £40.5 million according to its latest accounts, which run from August 1, 2011 to May 31, 2012. "We are trying to... invest in our team and improve our team. That has a cost, which creates debt," managing director Ian Ayre has said."I take comfort in the fact that the work we have done, some of which costs us a lot of money in this period and beyond, looks pretty painful at the time, but as long as you invest in it and manage it in the right way, then hopefully it bears fruit as we go forward... in a world where we are expected to break even."
