'Really counts' - Liverpool's latest net spend figures released as football finance expert reacts

Football finance expert Kieran Maguire has reacted to Liverpool’s latest set of accounts.

The Reds released figures for the 2023-24 season last week as they announced £57 million losses. A chief reason was not playing in the Champions League, with media revenue falling by £38 million as Liverpool had to compete in the Europa League.

Overall revenue did rise to £614 million, with more than £300 million from commercial deals signed with UPS, Google Pixel, Peloton and Orion Innovation. But the wage bill did rise from £373 million to £386 million, although that is partly due to bonuses for reaching the last 16 in the 2022-23 Champions League being paid out in the accounting period. Meanwhile, former manager Jurgen Klopp and his backroom staff who left in the summer received combined pay-offs of £9.6 million.

Liverpool’s full rundown of their accounts have now been released on Companies House, with Maguire looking through the finer details. Under the section ‘player trading’, it reads: “Since the end of the financial period, the club has contracted for the purchase and sale of various players. The net amount payable resulting from this activity is £0.1 million. This activity will be accounted for in the year ending 31 May 2025. The cumulative effect on the Profit and Loss Account since the period end in relation to the profit on sales of players is a £41.9 million profit.”

University of Liverpool lecturer Maguire, giving his reaction on X, said: “Liverpool 23/24 accounts now visible, will give more details later but it looks as if they are going to win the Premier League this season on the back of a net spend this season of…£0.1 million! Further evidence that spending smart, not spending big, is what really counts”

Since Arne Slot arrived as head coach, Liverpool have signed only Federico Chiesa for £10 million from Juventus. The likes of Sepp van den Berg, Fabio Carvalho (Brentford) and Bobby Clark (Red Bull Salzburg) were sold in Slot’s maiden summer in charge.

The Reds’ losses in their latest accounts does not put them at risk of breaching Premier League profit and sustainability rules and Slot is expected to have money to spend ahead of the 2025-26 season. A new striker, left-back and central defender have been positions mooted to strengthen, although other business may be dictated by the respective futures of Mo Salah, Virgil van Dijk and Trent Alexander-Arnold. The trio all see there contracts expire at the end of the campaign.

On the latest set of accounts, Liverpool’s chief finance officer, Jenny Beacham, said: “Operating a financially sustainable club continues to be our priority and, with the continued increase in costs, it’s essential to grow income streams year on year to maintain financial stability.

“The success of our commercial operations, together with the opening of the new Anfield Road Stand, has increased our revenues during this reporting period which demonstrates our desire to continue to compete at the highest levels of football in the men’s and women’s game. The global appeal of this football club continues to be phenomenal and is the underlying strength and opportunity we have for continued growth.”