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THE cost of clearing up the debt mess left by Tom Hicks and George Gillett at Liverpool FC is fully revealed in today’s Anfield accounts.

New owners the Fenway Sports Group pumped in £200m to wipe away most of the club’s debt when they bought it.

But £35m has since had to be set aside for the American dream that died.

That was the massive amount spent on design fees, legal and administrative costs in regard to the futuristic - but ultimately futile - stadium plan commissioned by Hicks and Gillett from Dallas based architects HKS.

And its costly failure is predominantly responsible for an overall annual loss in the accounts at Anfield of £49.4m before tax.

The HKS glass and steel design plan or Stanley Park is now on the scrapheap - and the many millions it cost described by the club as ‘significant wasted money’ after being written off.

Another stadium design plan - commissioned previously from Manchester based architects AFL - remains live as the Reds ponder whether to redevelop Anfield or build anew.

In all, the costs of Anfield stadium planning have so far totalled £49.6m - £35m of it relating to the failed Dallas plan.

The cost of that doomed stadium plan, masterminded by Hicks, is listed in today’s accounts as a major ‘exceptional item’.

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However, the stadium write off costs will not impact upon the club’s ability to comply with new European financial fair play regulations - as they are not included in UEFA break-even calculations.

Another exceptional item in the figures - the cost of hiring and then parting company with new England boss Roy Hodgson and his backroom staff 18 months ago - is listed at £8.4m.

That ‘termination payments’ figure also includes a settlement with former LFC Managing Director Christian Purslow, who played a key role with current MD Ian Ayre and Sir Martin Broughton in ousting Hicks and Gillett after a titanic courtroom struggle in October 2010.

Purslow left the club soon after Boston Red Sox moguls John Henry and Tom Werner stepped in to rescue the Reds.

Today, in an interview with the Echo , current MD Ian Ayre said the accounts represented a major cleaning up operation post Hicks and Gillett and said they meant the club was now in a solid and stable position to move forward.

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He also stressed they reflected the major commitments made by Fenway Sports Group to consign Liverpool’s dark days to history and move the club forward into a new era under Henry and Werner.

Said Anfield MD Ian Ayre: “They key message is that the new ownership has created stability, a long term opportunity for Liverpool and some good foundation work that hopefully we’ll all build upon.

“It’s really about everyone being together and shown unity. We have seen in the past what happens when you don’t have everyone working together.

“One of the key things of this ownership group is that they do want everyone to work together.

“They are very open and collaborative about the way they go about their business.

“They don’t create walls between people.

“They don’t do that in their own business in the US.

“Everybody has got a voice and gets a chance to say what they think. Everybody is involved and that’s the best way for it to be.

“We have a great team of people here who just need to build on what we have started.

Key highlights in the accounts published today show:

Liverpool’s losses rose in the year in question - from £19.9m previously to £49.4m.

Debt interest charges as a result of the FSG takeover have reduced from £18m to £3m annually

£131m was spent in the period on new players including Luis Suarez, Andy Carroll, Jordan Henderson, Stewart Downing, and Charlie Adam.

The net spend on players was £41m - as opposed to just under £17m the year previously.

Wage costs went up by £10m during the year - reflecting an ageing squad and an issue since addressed, say the club, when ten players left Anfield during the summer (including Emiliano Insua, Christian Poulsen, Paul Konchesky, Philip Degen and Milan Jovanovic).

A 25 per cent growth in commercial revenues - up from £62.1m to £77.4m

Total club revenue in 2011 fell by just under a million pounds to £183.6m - reflecting the loss of Champions League football this season.

Media revenues dropped from £79.6m to £65.3m - again reflecting the loss of Champions League football from TV sources

Matchday revenues dropped £2m to £40.9m - again an impact of no Champions league games

* Read more:Ian Ayre: Liverpool FC accounts show that LFC is now on a firmer footing