Liverpool have reported a record £301m revenue in its annual accounts but have also announced a pre-tax loss of £19.8m. The Reds are ninth in the Deloitte Money League table and saw a £3.9m increase in their overall revenue, but the loss of almost £20m is in stark contrast when compared to the £60m profit they recorded in last year's report, which was largely helped by the sale of Luis Suarez to Barcelona.

The latest figures include the coast of the sacking of Brendan Rodgers, the appointment of Jurgen Klopp and the arrival of 12 players such as Roberto Firmino, James Milner and Nathaniel Clyne.

Liverpool's new Main Stand was also under construction during the financial year – which ended on May 31 2016 – and the club's chief operating officer Andy Hughes believes the figures show the continued investment and progress made under owners FSG.

"The figures reflect continued investment in the club, both in terms of the squad, in bringing Jurgen into the club and also the impact of the new Main Stand development," Hughes said in a statement on Liverpool's official website. "That has obviously had a big impact on the operation of Anfield and the costs around a matchday but clearly you can see there has been continued investment from the owners, which is a continuation of a long trend.

"Since FSG acquired the club we have seen revenue growth in every single year. It's now a record of £301m for Liverpool so we're very pleased that that trend has continued through what has been a very difficult year with the new Main Stand built."

"The increase in the underlying revenue adds further strength to the club's financial position despite the cost of football rising with player transfer fees, wages and agents' costs.

"During this reporting period, we also agreed a new five-year credit facility, which further secures the club's long-term financial stability. All three main revenue streams continue to show strength and commercial revenues held firm irrespective of the impact of the Main Stand at Anfield."

Liverpool's stadium improvements predictably had an impact on the club's accounts. Getty Images