Liverpool have the highest wage bill in the Premier League totalling £428million, but their annual revenue has crashed through the £700million threshold for the first time.
The figures are among those announced by the reigning Premier League champions in their financial results for the year to May 31, 2025. As such, the accounts are not affected by Liverpool’s commitment to spending about £450million on new signings in the summer transfer window last year, when they also recouped more than £200million through player sales.
Other headline numbers show that the cost of running Liverpool each year is now £657million, while the pre-tax profit was £15.2million (£8million after tax). They made a £57million loss before tax for the previous financial year, in which they competed in the Europa League.
Liverpool have enjoyed considerable success under John W Henry, the principal owner of Fenway Sports Group
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Jenny Beacham, Liverpool’s chief financial officer, admitted that the club was facing “significant cost challenges” at a time when it was looking to compete “at the highest level” with its men’s and women’s teams.
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The league-leading wage bill represents a £42million rise year on year, which can be explained, in part, by bonuses linked to the club winning the Premier League in the 2024-25 season. Players’ contracts at Liverpool are heavily incentivised and linked to success. Manchester City’s wage bill stands at £408million, Arsenal’s is understood to be £338million and Manchester United’s is £313million.
Overall, staff costs at Liverpool have more than doubled from £208million in 2016-17.
Record revenues rose by £89million to £703million and can be attributed to factors such as Liverpool’s return to Champions League football last season, with media revenue increasing by £60million to £264million. The period under review was also the first full season operating with the new Anfield Road Stand, which supported an increase in match-day revenue by £14million to £116million.
Concerts by the international superstars Taylor Swift and P!nk at Anfield, plus new and existing partnerships with blue-chip companies, contributed to commercial revenue increasing by £15million to £323million.
Taylor Swift’s Eras Tour stopped off at Anfield, providing a significant boost to commercial revenue
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Fenway Sports Group, Liverpool’s owner, is committed to a self-sustaining model and has enjoyed on-field success, with two Premier League titles and a Champions League final victory testament of that approach. The club’s debt is £286million, of which £69million is owed to banks.
“We make no secret of our desire to run and operate a financially sustainable club, to grow revenue streams, and to do all we can off the pitch to help bring more success on it,” Beacham said.
“The 2024-25 season is a great example of how this can work, with record revenues alongside the men’s team winning our 20th league title. The challenge for us is to continue with our growth, through the incredible work that we do in areas such as our partnership portfolio and retail offerings, as well as continuing to diversify our focus to best serve our global fan base.
“The club does face significant cost challenges, including rises in administrative, staffing and operational costs, alongside the need for us to compete at the highest level of the game, across our men and women’s teams.
“Since this reporting period, we have invested significantly to continue to enhance our playing squads, investing in the club’s present and in its future too.”
Meanwhile, Florian Wirtz will miss Saturday’s Premier League game with West Ham United due to the back injury that forced him to pull out of last weekend’s win over Nottingham Forest. The £116million midfielder has not trained fully since withdrawing during the warm-up at the City Ground. Slot had expected him to be available and said that he is unsure when Wirtz will be fit.
Jeremie Frimpong has returned to training after a groin issue sustained against Qarabag in the Champions League on January 28.