Liverpool have announced pre-tax losses of £46million for the financial year ending on May 2020.

The Premier League champions lost significant matchday and media revenue due to games being played without supporters during the COVID-19 pandemic.

Liverpool also revealed their overall revenue for the period stood at £490m - down £43m on the previous year.

Matchday revenue was down by £13m to £71m as a result of four fewer Premier League home games during this period.

LFC’s managing director Andy Hughes said: "This financial reporting period was up to May 2020, so approaching a year ago now.

"It does, however, begin to demonstrate the initial financial impact of the pandemic and the significant reductions in key revenue streams.

"We were in a solid financial position prior to the pandemic and since this reporting period we have continued to manage our costs effectively and navigate our way through such an unprecedented period.

"Importantly, what has remained constant throughout the pandemic is the club’s desire to support the local community and those who live in and around Anfield and across the city region.

"We have also worked closely with our city partners and provided unwavering support to the region’s public health departments in their drive to promote the important health messages across the region to help keep local people safe.

"More recently, we willingly made Anfield available to operate as a mass testing centre and now a vaccination hub with the incredible commitment and dedication of our Anfield staff.

"We can now look ahead to the conclusion of this season and hopefully a more normal start to next season.

"It’s no secret that supporters have been greatly missed at Anfield over the past year and we look forward to having them back."

The announcement comes just a week after Liverpool's owners confirmed plans to join a breakaway European Super League with five other Premier League clubs and six other European sides.

The move could have earned the club a share of the £3.5billion split between the 15 founding members of the league but FSG withdrew from the ESL just 48 hours later following a massive backlash from fans.

Summary of the financial period:

Pandemic impacts final three months of accounts

Media revenue down by £59m to £202m

Matchday revenue down by £13m to £71m

Commercial revenue up by £29m to £217m

Overall revenue down by £43m to £490m

Loss before tax was £46m