Last updated on July 11th, 2019 at 02:48 am
Liverpool had a successful year in 2018 on and off the field. They led the Premier League most of the season. In addition, the success led to a world record profit as seen in their annual financial report.
The Reds made a pre-tax profit of £125 million, an increase from last year’s £40 million. The team’s turnover increased by £90 million in the 2018 fiscal year to £455 million, which is also a new record.
Liverpool reached the Champions League final last year. As a result, it earned the team around £72 million. Also, the team’s profit got a boost from the Philippe Coutinho’s £142 million transfer to Barcelona in January of 2018.
World Record Profit
Liverpool achieved the world record profit after tax at £106 million. Leicester City held the previous record at £80 million in 2016-2017 fiscal year. Most of Liverpool’s earnings came from player transfers, including signings of Dominic Solanke, Virgil van Dijk, Mohamed Salah, Alex Oxlade-Chamberlain, and Andy Robertson. The fiscal report didn’t include the record spending on Naby Keita, Alisson, Xherdan Shaqiri, and Fabinho.
The Reds told sports news outlets that they reinvested all their profit into the squad. The expenses included associated expenses and agents’ fees. Chief operating officer Andy Hughes said that financial results do fluctuate depending on player training expenses and timing of payments. At present, the team’s wages increased to £263 million.
The team is also constructing a new training complex in Kirkby, which is worth £50 million. The club wants to provide world-class amenities to staff and players, and that’s why it is improving its sports facilities.
During the 2017-2018 fiscal year, the club signed eight new sponsorship deals. Also, they renewed four deals. The commemorative jerseys celebrating the Reds’ 125 anniversary also sold well. In addition, the club’s social media platforms have more than 60 million followers to date.
These are some of the things a team owner needs to think about to achieve world record profit. It is a stressful job, and that’s why you should consider becoming a sports bookie instead.
