(Reuters) - Liverpool announced record pre-tax profits on Friday of 125 million pounds ($162 million) over the last financial year after reaching the Champions League final and the sale of Brazil playmaker Philippe Coutinho.
The club’s annual accounts for the financial year to May 31, 2018 showed pre-tax profits grew by more than 300 percent from 40 million pounds, eclipsing the 92.5 million pounds made by Leicester City in 2016-17.
Champions League qualification, progress to the final where they lost to Real Madrid and the 142 million-pound sale of Coutinho to Barcelona in January, 2018 were instrumental in the record profit.
The Merseyside club’s turnover increased by 90 million pounds to 455 million pounds, with all three revenue streams - media, commercial and matchday - showing improvement.
“What we have seen is a stable and sustained improvement in the club’s financial position over recent years,” Liverpool’s chief operating officer Andy Hughes said in a statement.
“This growth and increase in revenue has enabled us to significantly reinvest both in the playing squad and the football operational infrastructure.”
The club said they have reinvested 190 million pounds into Juergen Klopp’s squad as they chase a first top division title in 29 years this season.
Mohamed Salah, Virgil van Dijk, Andy Robertson, Dominic Solanke and Alex Oxlade-Chamberlain joined Liverpool during the reporting period, and the investments continued with the arrivals of Naby Keita, Fabinho, Alisson Becker and Xherdan Shaqiri in the close season transfer window.
Liverpool also climbed two places to seventh in last month’s Deloitte Football Money League.
($1 = 0.7714 pounds)
Reporting by Hardik Vyas in Bengaluru, editing by Ed Osmond