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Liverpool revenues likely to exceed £700m

There are signs that FSG’s vision of a virtuous circle — where success on the pitch powers commercial revenues, which can then be reinvested into the playing squad and the youth academy — is becoming a reality.

Liverpool won the title despite spending less than any other Premier League club across the summer and winter transfer windows, according to Transfermarkt data. Its use of sophisticated data analysis techniques to identify undervalued players — such as midfielder Ryan Gravenberch and defender Ibrahima Konaté, each signed for €40mn — means they have spent less on transfers than all their major rivals since their last title win, in 2020.

However, keeping a successful group of players together has required Liverpool to extend contracts and increase player wages. The result is that its wage bill is now the second highest in the league.

That puts the onus on Liverpool’s commercial department to increase revenues. Ben Latty, the club’s chief commercial officer, told the Financial Times that his department’s role was to generate income to “sustainably finance the pursuit of trophies”. “We’re already looking to the future and working out how we can best maximise this success [winning the Premier League] to continue our commercial growth and support further on-pitch success,” he added.

Commercial revenues, increasingly important at a time of slowing media rights growth, surpassed £300mn for the first time last year. They are expected to rise again next season following Liverpool’s change of kit supplier from Nike to Adidas. The club’s commercial partners include insurer AXA, phonemaker Google Pixel and beer brand Carlsberg. This summer, players and staff will fly to Japan and Hong Kong with the club’s official airline partner Japan Airlines for the club’s pre-season tour.

Analyst Kieron O’Connor, who writes the Swiss Ramble football finance blog, estimates Liverpool’s revenue for the 2024-25 financial year is likely to surpass £700mn, on account of its participation in this season’s Champions League. Liverpool failed to qualify for the 2023-24 Champions League.

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