However, Liverpool’s overall revenue rose by £20 million to £614 million in the 2023-2024 season, with commercial income experiencing substantial growth, up £36 million to reach £308 million.

This marks a significant milestone for Liverpool, as it is the first time commercial revenue has surpassed £300 million in the club’s annual financial accounts, primarily driven by expansions in partnerships and retail operations.

During the 2023-2024 period, which included Jurgen Klopp’s final season as manager, Liverpool celebrated notable achievements: winning the Carabao Cup, finishing third in the Premier League, and progressing to the quarter-finals of both the FA Cup and Europa League.

Liverpool enhanced their squad by adding four new players, investing approximately £165 million in transfer fees for Alexis Mac Allister, Dominik Szoboszlai, Wataru Endo, and Ryan Gravenberch.

Although Liverpool did not compete in the Champions League for the first time since 2016-2017, leading to a £38 million drop in media revenue to £204 million, this decrease was somewhat mitigated by an increase in Premier League media revenue attributed to the team’s stronger performance in comparison to the previous season, where they finished fifth and did not secure a major trophy.

The opening of the new Anfield Road Stand during this period, coupled with an increased number of competitive matches at the stadium, contributed to a £22 million rise in matchday revenue, bringing it to £102 million.

Despite the overall revenue growth, administrative costs rose by £38 million to £600 million, primarily due to increasing salaries and overhead costs. Notably, over the past eight years, matchday costs have risen nearly 80%, and staff costs have seen an 86% increase to £386 million since 2018.

Jenny Beacham, the club’s chief finance officer, emphasized the importance of financial sustainability, stating, “Operating a financially sustainable club continues to be our priority. With the continued rise in costs, it’s crucial to grow income streams year on year to maintain financial stability.”

Under the management of Arne Slot, Liverpool are currently leading the Premier League with a 13-point advantage over Arsenal. The club has also made remarkable strides in their social media presence, generating 1.5 billion fan engagements and adding a record 37 million followers across their channels.

According to Brand Finance’s 2024 report, Liverpool boasts the strongest brand among Premier League clubs, demonstrating the global appeal and remarkable growth potential that the club continues to enjoy.

[NaijaNews]