Will Liverpool Last Another 37 Weeks Without Going into Administration?

Liverpool may have begun their season with a decent battling performance against Arsenal in their 1-1 draw on Sunday, but the many demons that haunt the club are still casting a long shadow over the famed Shankly Gates.

Despite all the doom and gloom that has surrounded the club, particularly this summer, hope is high at Anfield for the coming season. Rafael Benitez's departure may have left some fans thinking the club would then spiral uncontrollably, but if anything Roy Hodgson's signing as manager has actually helped quell those fears and install a new confidence that has been missing over the last 12 months.

KPMG; Liverpool FC On The Verge Of Administration After Massive Rise In Debt

The season that just keeps kicking gave Liverpool and it's many fans the worst news imaginable after it emerged that the club have sunk deeper into debt . Yesterday's financial report from Kop Holdings revealed a record loss of £54.9 million over the course of the last season meaning that the clubs total debt now stands at £472.5 million.

Accounts for the club's holding company for the year ending in July 2009 show spiralling interest payments of £40m, wages breaking the £100m-a-season barrier, a record loss of £54.9m and an increase in the club's debt of £51.5m.

KPMG Warn That Liverpool Could Become the Next Leeds

Just like a sudden sharp pain down your left arm on a cold Tuesday night, Liverpool's supporters were blindsided by financial auditors KPMG's latest findings into their club.


Unable to repay their loan debts in January, Liverpool's owners, Tom Hicks and George Gillett, made arrangements with RBS (Royal Bank of Scotland) and Wachovia to repay their financial arrangements on July 24, a sum of £350m.