Reds keen to keep tight rein on wage bills

Fri, 04 May 12:11:31 2012

Liverpool's owners admit transfer fees and salaries need handling with care after the club's latest accounts revealed a near-£12million rise in the wage bill.

Fenway Sports Group have bankrolled substantial investment in the playing staff since January last year, although that has been heavily supplemented by the £50million sale of Fernando Torres to Chelsea.

The departure of the Spain international, as one of the club's highest earners, will have lightened the burden on the wage bill, but there remains work to be done with contributions still being made to the likes of Joe Cole's reported six-figure weekly salary while he is on loan at Lille.

And there appears a determination to keep a tight rein on the spending on players, both transfer fees and wages, while "remaining as competitive as possible".

In the club's accounts, officially published on Friday, the club identifies that area - among others - as being key in terms of `principal risks and uncertainties'. The figure for salaries of all staff rose to £120.3m.

"Player transfer market and wage costs are those that need the most care, and the aim is to manage these costs within financial constraints whilst remaining as competitive as possible," said the directors' report submitted as part of the accounts.

 

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