Liverpool announce their turnover increment from £90m to £455m.
The Reds latest financial results confirm they spent £190 million ($246m) on their squad, the biggest investment ever in players in the club’s history. The Premier League title challengers announced on Friday that turnover increased by £90m to £455m ($590m) in the year to May 31, 2018, while reports have suggested their £125m ($162m) pre-tax profit is a world record.
Virgil van Dijk became the world’s most expensive defender when he joined Liverpool from Southampton for £75m ($97m) in January 2018. Mohamed Salah’s arrival from Roma, as well as the signings of Andy Robertson, Alex Oxlade-Chamberlain and Dominic Solanke, contributed to a total £190m investment in Jurgen Klopp’s squad.
The departure of Philippe Coutinho to Barcelona raised £137m ($178m) while club revenues shot up thanks to the Reds’ return to the Champions League.
Liverpool have continued to splash the cash since, with Naby Keita, Fabinho, Alisson and Xherdan Shaqiri added for the 2019-20 season, although Solanke was sold to Bournemouth last month.
Chief operating officer Andy Hughes said:
“What we have seen is a stable and sustained improvement in the club’s financial position over recent years. This growth and increase in revenue
hasenabled us to significantly reinvest both in the playing squad and the football operational infrastructure. Financial results do fluctuate depending on player trading costs and timing of payments but what’s clear in these latest results is the further strengthening of our underlying financial footing and profits being reinvested in the squad and infrastructure.
Since the reporting period, which is now nearly 12 months old, we have continued reinvesting in the playing squad from those areas of growth. In addition, the capital investment in our new training complex in Kirkby is well underway which will provide first-class amenities for our players and staff, and will vastly improve sports facilities for the community of Kirkby. We’re making solid progress right across the club. Costs in football continue to rise year on year and it’s important we constantly review and manage our operating costs to ensure we’re in the right shape for future success.
With the continued support of our ownership group, performance on the pitch and maintaining our priority of reinvesting back into the squad, we remain focused towards fulfilling all our football ambitions.”
The big-money arrivals of Mohamed Salah and Virgil van Dijk were included in the Reds’ latest financial results, which were announced on Friday. Also departure of Philippe Coutinho to Barcelona raised the Liverpool turnover to £137m ($178m).