Liverpool achieved a historic milestone by generating $411 million in commercial revenue during 2023-24, surpassing arch-rivals Manchester United\'s $404 million for the first time in Premier League history, according to The Athletic.
The Merseyside club\'s commercial income now represents more than half of their total revenue of $820 million. This marks the culmination of a decade-long growth strategy that has nearly tripled commercial earnings under the leadership of CEO Billy Hogan and Chief Commercial Officer Ben Latty.
Liverpool\'s social media dominance contributed significantly to their commercial appeal. The club recorded 1.7 billion engagements across all platforms last season, exceeding the combined totals of the top 10 NFL and NBA teams.
The club\'s focus on Asian markets continues to yield substantial returns. Liverpool operates nine of their 20 global retail stores across Asia and maintains 48 official supporters\' clubs throughout the continent, capitalizing on their estimated 250 million Asian fanbase.
\"There\'s been a step-change in terms of our revenue, but there\'s still a lot of room for us to grow,\" Liverpool\'s chief commercial officer Ben Latty told The Athletic. \"The potential is huge. I believe we\'re only just getting started in terms of where we can go as a commercial business.\"
Major partnerships with Standard Chartered, AXA, and Google Pixel have strengthened Liverpool\'s commercial portfolio. Current sponsorship agreements with Standard Chartered and sleeve sponsor Expedia extend through 2027, with extension discussions set to begin soon.
“Controllable revenue — matchday and commercial — is what I’m focused on,” Latty said. “Media money is great but, to an extent, it’s based on the on-pitch performance. We have to be a football club which is sustainable in everything we do.”
The club transitions from Nike to Adidas on August 1, with the new deal expected to significantly exceed Nike\'s previous $75 million annual agreement. Liverpool maintains control over their merchandising operations, unlike many competitors who outsource retail functions.
\"We\'re one of the biggest clubs in the world and we want to act like it,\" Latty said. \"That\'s the case both on and off the field.\"