English Premier League team Liverpool FC has announced pre-tax profits of £125m (€143m/$162m) for the financial year to May 2018, a record in world football.
Liverpool has eclipsed the previous profit record of £92.5m, posted by Premier League rivals Leicester City in 2016. The figure represents an increase of £85m over the previous year, as the club grew all three of its major revenue streams, thanks in large part to strong performance in the Premier League and the team’s run to the Uefa Champions League final.
Media and broadcast revenue saw the biggest growth, increasing by £66m to £220m. Commercial revenue increased by £17m, reaching £154m, while match revenue stood at £81m, up £7m over the 2017 financial year.
Overall, turnover reached a record high £445m, £90m higher than the figure posted last year.
Speaking exclusively to SportBusiness, Liverpool’s chief commercial officer, Billy Hogan, said that the results were evidence of the “virtuous circle” the club has tried to create between their on and off-pitch performance.
“I think it’s a great indication of the success that we’re seeing on pitch and how that translates then back into opportunities off the pitch,” said Hogan. “In addition, we’ve just had the renewal with Standard Chartered in this past season. We’ve signed a number of new commercial partners this year as well. I think you are seeing the benefits that come from a terrific on-pitch performance.”
Indeed, Liverpool added eight new commercial partners globally, as well as signing renewed terms with four of their existing sponsors.
Much of the growth was propelled by the club’s run to the Champions League final, having not played in European competition at all in the previous campaign. In total, the Champions League brought £72m into the club.