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  • Liverpool owners have been hit by a set of "painful" financial results that highlight the cost of investing heavily in players who have failed to re-establish the club as a force in England or Europe. The debt at Liverpool was revealed Monday to have risen by a third to 87.2 million pounds (about $131 million), while losses of 40.5 million pounds (about $61 million) were accrued during the 2011-12 season. "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," managing director Ian Ayre said. "But as long as you invest in it and manage it in the right way, then hopefully it bears fruit as we go forward." Theres little prospect of Liverpool reaping riches from the Champions League next season, however, as the team languishes in seventh place in Premier League, outside of the top four qualification places. The downbeat financial results demonstrate the minimal impact of having reached two domestic finals last season and ending a six-year title drought by winning the League Cup. The five-time European champions were strong performers in the Champions League before slumping out of the group stage in 2009. It was the eighth-place finish last season in a topflight division the club has won 18 times -- a haul only surpassed by Manchester United -- that bit so hard in the Anfield balance sheets and led to Kenny Dalglish losing his job as manager, replaced by Brendan Rodgers. The cost of firing Dalglish was included in 9.5 million pounds (about $14 million) of "exceptional payments" during the 10 months to May 31, 2012 covered by these accounts. Liverpools losses of 40.5 million pounds in the accounts covering a 10-month period were in line with the losses in the previous full year. There was only a modest increase in turnover of 5 million pounds (about $7 million) from the 184 million pounds (about $275 million) reported for 2010-11. Man Uniteds revenue by comparison in 2011-12 hit 320 million pounds (about $480 million). Heavy spending before the 2011-12 season -- including more than $50 million on Stewart Downing and Jordan Henderson -- wasnt replicated with an upturn in fortunes on the pitch. Ayre accepts the club must "improve revenues and manage our cost base effectively." Principal owner John Henrys Fenway Sports Group, which rescued the club from fellow Americans Tom Hicks and George Gillett Jr. in 2010, injected 46.8 million pounds (about $70 million) into the club last season. Liverpool also said Monday that it is in talks with Standard Chartered bank about extending its shirt sponsorship deal, which is worth about 20 million pounds a season ($30 million) and expires at the end of the 2013-14 campaign. <a href="http://www.officialairmaxstore.fr/">Air Max Pas cher</a>. Joining the first-time candidates in the 2012 class were Pavel Bure and Adam Oates. Sakic was one of the few players who spent his entire illustrious career with one franchise. <a href="http://www.officialairmaxstore.fr/">Nike Air Max</a>. The city voted 21-3 in favour of the plan to refurbish Frank Clair Stadium and add new retail and residential developments to the park. "Todays positive City of Ottawa council vote means a beautiful new stadium and as early as 2014, a proud new franchise that will make its community proud and our league even stronger," CFL commissioner Mark Cohon said in a statement. <a href="http://www.officialairmaxstore.fr/">http://www.officialairmaxstore.fr/</a>;. -- Could it really be true love between Denny Hamlin and Dover? So far, its at least a crush. <a href="http://www.officialairmaxstore.fr/">Air Max Chaussures</a>. Even the longest of tenures with the Twins, though, dont last forever. Versatile veteran Michael Cuddyer, voted by local beat writers as the teams most valuable player in 2011, is gone. He will be with the Colorado Rockies next season.TEMPE, Ariz. -- New Arizona Cardinals coach Bruce Arians has completed his staff with the announcement of the hiring of 13 assistants. The group includes former Cardinal Stump Mitchell as running backs coach and Amos Jones as special teams co-ordinator. Mitchell was head coach at Southern University the past three seasons. Jones has spent the last six seasons with the Pittsburgh Steelers, and was special teams coach there last year. Others and their responsibilities are: outside linebackers James Bettcher, defensive line Brentson Buckner, linebackers Mike Caldwell, tight ends Rick Christophel, wide receivers Darryl Draake, offensive assistant Kevin Garver, assistant special teams-assistant tight ends Steve Heiden, pass rush specialist Tom Pratt, defensive backs Nick Rapone, cornerbacks Kevin Ross and assistant offensive line Larry Zierlein.dddddddddddd Freddie Kitchens and Ryan Slowik were retained from coach Ken Whisenhunts staff. Kitchens will switch from tight ends to quarterbacks coach. Slowik will switch from outside linebackers to assistant defensive backs coach. Arians earlier announced the hiring of defensive co-ordinator Todd Bowles, offensive co-ordinator Harold Goodwin and assistant head coach-offence Tom Moore. ' ' '

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