KPMG has raised concerns over the long-term financial security of Liverpool Football Club (LFC) after the club's parent company revealed debts of more than £350m.

According to the Guardian, Kop Football Holdings' posted a loss of nearly £55m during the year ending 31 July 2009 after being forced to pay around £40m in servicing existing debt. The newspaper said the professional services firm, which audits LFC, expressed renewed concern that the Premier League club is currently relying on short-term loan extensions to survive.

LFC owners Tom Hicks and George Gillett Jnr recently confirmed their intention to sell the club after bringing in Barclays Capital to advise on a deal. Meanwhile, Newcastle United Football Club (NUFC) - promoted back to the Premier League after a year's absence - has posted a £37.7m operating loss for the year ending 2008-09.

The club estimates it will make a loss of £32.5m for the 2009-10 financial year as it implements a five-year plan towards ensuring it is able to break even by 2015-16. A NUFC spokesperson said: "The board at Newcastle United has issued this statement to the public to set out clearly to one and all the current financial situation and to state clearly that every effort will be made by the board to achieve a 'break even' financial situation by 2015."