Liverpool's current debts now stand at up to £351.4million, the club's accounts have revealed.
Records released by Companies House, the official government register of UK companies, indicate a turnover for the Reds' parent company Kop Holdings of £184million for the financial year ending in July 2009, a profit of £20million from 2008's total.
However losses before tax totalled £54.9million, a £14million increase, with interest payments on loans George Gillett and Tom Hicks placed upon the club rising to £40.1million per annum.
The Anfield outfit's valuation also dropped by £16.1million whilst it was also revealed that the club's arrangement with the Royal Bank of Scotland, agreed last summer, expired on March 3 this year.
Sources close to RBS indicate that the high street giant is willing to extend the repayment date on their £237million loan but have stressed that patience is wearing thin with Gillett and Hicks yet to secure a sale to end their three-year ownership of the club.
British Airways chairman Martin Broughton has been brought in to oversee the sale and revealed in an interview with Liverpool's official website that he expected a deal to be completed in a matter of months.
Broughton met with Rafael Benitez in London yesterday with a club statement indicating that an exchange of views and "issues of concern" was "constructive". However the Spaniard cancelled his weekly pre-match press conference to avoid a media interrogation into the talks.
Liverpool's season has gone from bad to worse on the pitch, with Benitez's pledge to deliver Champions League football to Anfield whilst plans to build a new stadium have been hampered by the debt restricting the club.
The directors' report, written last year, indicated that Anfield itself has a "useful economic life" of five years, underlining the need to build a new home for the Reds in Stanley Park once a new owner willing to commit to the project, which has already cost £45.5million can be found.
Also listed in the accounts was a loss of £4.3million in staff pay-offs, with former chief executive Rick Parry believed to have commanded a large amount for his own severance package.
Kop legend Phil Thompson has expressed his concerns at the demise of his boyhood club and admits that he is fearful of what the future will hold, with key duo Fernando Torres and Steven Gerrard being constantly linked this week with summer moves away from Anfield.
He said: “I hate the speculation about Torres and Gerrard leaving and I’m expecting it to go on right through the summer.
“There are no guarantees that even if we sold Torres, the manager would be able to use the cash to strengthen the squad.
“In a way it doesn’t matter whether Rafa stays or goes because until the club is sold we’re going nowhere.
“People are saying Martin Broughton needs to sort out Rafa’s future but he wasn’t brought in for that. His brief was to sell the club and that’s what we need him to focus on.
“Martin has to tell the owners what is a proper price for the club and convince them to get the deal done quickly.
“These are worrying times and I’m dreading another transfer window where we have to settle for free transfers and cheap buys.
“It’s frightening where the football club is going. I fear for my club.”
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Stuart Dawson, Stamford around 1 year, 4 months ago