Liverpool’s owners, Fenway Sports Group, have been praised for the “incredible contribution” they’ve made since taking control of the club about 10 years ago.
FSG – which were then known as New England Sports Ventures – bought a club on its knees in October 2010 for around £ 300 million to end the venomous reign of inmate Tom Hicks and George Gillett in Anfield.
The 18-time England champions were flirting with the administration under the disastrous administration of Hicks and Gillett before the FSG purchased the club in dramatic scenes at the High Court on October 15, 2010.
Nearly a decade later, Liverpool is now valued at £ 1.7 billion by the influential American publication Forbes and the Reds’ latest financial results show an institution that is thriving in all areas.
A record year in Anfield saw the club record £ 533 million in revenue, with all three revenue streams experiencing significant growth.
LIVE reaction to Liverpool’s amazing financial results HERE
In numbers released Thursday, the Reds continue to thrive off the pitch to keep up with the very noticeable progress on it, where European and world champions Jurgen Klopp are now only 12 points behind their first title in 30 years.
Game revenues, aided by the continued success of the Main Stand redevelopment, increased by £ 3.5 million to £ 84 million, while media revenues grew from £ 41 million to £ 261 million.
The commercial part of the Anfield operation is also thriving, with £ 34 million earned to finish out of a total of £ 188 million for a deadline of May 31, 2019.
Liverpool chief operating officer Andy Hughes paid tribute to ongoing support from principal owner John W Henry, President Tom Werner and FSG President Mike Gordon.
And the head of the Reds hailed the picture that the American-owned group has put in place to allow the club to thrive following the announcement of the latest impressive financial figures.
“[The owners] they have made an incredible contribution and this spans many different areas, “said Ms Hughes to ECHO.
“It was incredibly important in terms of developing a strategy and supporting a leadership team and that their support is ongoing and active for us and for the teams we have put together.
“Part of the strategy we’ve put together is to recruit the best people we can get in and out of the field across the club.
“A lot of time and effort has been spent by the property group to establish a plan on and off the pitch to support people to lead their strategy and bring success to the club. I think it continues.
“There had to be a period of time, historically, in which there would have been a financial restructuring, if you wish. It was reported at that time and the club was refinanced and put on a stable financial basis where it could drive its growth.
“The club has been building this for many years and I hope it can continue to do so. There is regular and active involvement from the owners in supporting the leadership team on a daily basis.
“The message should be what you see here is the result of a really strong and coherent strategy for several years.
“That strategy remains unchanged and we will continue with that plan and hope it continues to improve.”
Liverpool’s latest data has been announced for a year which has seen them embark on the biggest summer spending madness in club history to bring Alisson Becker (£ 65 million), Fabinho (£ 39.3 million), Naby Keita ( £ 52.5 million) and Xherdan Shaqiri in Anfield. Virgil van Dijk’s £ 75m club record signing is also part of the numbers.
During the same period, the Reds entered into new agreements for as many as 11 first-team players that included Alex Oxlade-Chamberlain, Roberto Firmino, Mohamed Salah, Andy Robertson, Trent Alexander-Arnold, Sadio Mane, Divock Origi and Captain Jordan Henderson.
Despite such a tempting outlay, Liverpool are still able to record a turnover of £ 533 million in total, which is the bottom line of a club heading in the right direction on and off the pitch at the start of the decade.
“I think this represents many years of following a very coherent strategy aimed at trying to improve this club and reinvest some of that off-field success on it and add it to the team, as well as in terms of investments in player wages,” he said. added the COO Reds.
“This brings further success, so yes, it’s great news and I hope it can continue. Our strategy is unchanged and I think we have been successful with that strategy and it will continue.”
Despite ongoing financial growth, however, Liverpool will cut their clothes accordingly to ensure that the future remains bright for Jurgen Klopp and his team.
Massive connections to players like Kylian Mbappe and Jadon Sancho are never too far from rumors about the move, but the Reds will continue to take a reasonable approach in all areas of their investments.
Hughes said: “The success that we push off the field will bring further profitability and cash flow and we are investing it in the team again and living according to our means.
“This has been a clear strategy for building sustainable financial growth. We will continue to do so. This means there is more money to invest but we will not invest further.
“I think what you can see historically is that we have devoted a lot of time, thought, intelligence and brain power to building a team that stays in place and continues.
“Yes, we are continuing to invest in the team. Since the beginning of the year we have signed Takumi Minamino, so we continue to do what we have always done: looking for great players at the right price.”