Liverpool have announced that they have recorded a pre-tax profit of £42 million. The figures account for the club’s finances until May 2019. The club’s turnover had increased by £78 million, meaning that Liverpool registered a £533 million turnover. In addition, media revenue generated by the club increased to £261 million. Liverpool’s impressive profits were helped by the sale squad players such as Dominic Solanke and Danny Ings.
Sales of Dominic Solanke and Danny Ings Help to Increase Liverpool’s Profit
Liverpool’s Positive Transfer Business
Liverpool’s sale of squad players has helped the club boost their profits. Fringe players such as Danny Ings and Dominic Solanke were sold for £20 million each. This means that whilst the club spent over £200 million combined on Alisson, Fabinho, Naby Keita and Xherdan Shaqiri, the net spend has remained reasonable.
This has allowed the club to grow both on and off the field. The relationship between the owners, manager, fans and squad is a far cry from the disastrous ownership of Hicks and Gillet.
‘Sustained Growth Across the Club’
Andy Hughes, Liverpool’s chief operating officer said: “What we’re seeing is sustained growth across all areas of the club which is aligned to the recent performance on the pitch.”
This is a fair assessment; Liverpool’s financial gains have been huge and this is further helped by the addition of silverware. The club won the Champions League last season and look to set to win the Premier League by some distance.
Liverpool are also due an overhaul of their training ground, which is expected to cost around £50 million. At the moment, everywhere you look around Liverpool Football Club is seeing growth. Young players are being developed, the stadium is being expanded and Melwood is set for development.
Throw in the trophies and the expected refresh of the squad in the summer and things have not looked this good for Liverpool in a long time.