Liverpool announced a pretax loss of 46 million pounds for the year that ended last May, with the COVID-19 crisis hitting clubs hard in the final quarter in particular, the defending Premier League champion said on Tuesday.

The latest financial results, including a drop in revenue of 43 million pounds to 490 million pounds, follow a pretax profit of 42 million pounds the previous year.

Media revenue dropped 59 million pounds to 202 million pounds due to the Premier League season extending outside of the reporting period, but that was partially offset by a 29 million-pound increase in commercial revenue.

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Matchday revenue went down by 13 million pounds as a result of four fewer Premier League home games, the club said in a statement.

“It does … begin to demonstrate the initial financial impact of the pandemic…

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