Liverpool Commercial Revenue Surpasses Manchester United

In a significant shift of financial power within English football, Liverpool FC has achieved a historic milestone, surpassing arch-rivals Manchester United in commercial revenue for the first time in Premier League history. The Merseyside club generated an impressive $411 million in commercial income during the 2023-24 financial year, eclipsing Manchester United's $404 million and marking a pivotal moment in the ongoing battle for global football supremacy off the pitch. This remarkable figure now constitutes over half of Liverpool's total revenue, which stands at $820 million, underscoring the success of a meticulously executed decade-long growth strategy.

This unprecedented commercial ascent is the culmination of sustained effort under the leadership of CEO Billy Hogan and Chief Commercial Officer Ben Latty, who have nearly tripled the club's commercial earnings in the past ten years. A key driver behind this surge has been Liverpool's unparalleled dominance in the digital sphere. Last season alone, the club recorded an astounding 1.7 billion engagements across all social media platforms, a figure that astonishingly exceeds the combined totals of the top ten NFL and NBA teams. This immense digital footprint translates directly into enhanced brand visibility and attractiveness for global partners, leveraging a passionate and highly engaged worldwide fanbase.

Beyond digital prowess, Liverpool’s strategic focus on the lucrative Asian markets continues to yield substantial returns. The club operates nine of its twenty global retail stores across Asia and boasts 48 official supporters’ clubs throughout the continent, tapping into an estimated 250 million Asian fanbase. This targeted geographical expansion, combined with innovative fan engagement initiatives, has created deep connections that translate into significant commercial dividends. As Ben Latty succinctly put it to The Athletic, "There's been a step-change in terms of our revenue, but there's still a lot of room for us to grow. The potential is huge. I believe we're only just getting started in terms of where we can go as a commercial business."

The club's robust commercial portfolio is further strengthened by cornerstone partnerships with global brands like Standard Chartered, AXA, and Google Pixel. Key agreements, including those with main shirt sponsor Standard Chartered and sleeve sponsor Expedia, are secured through 2027, with discussions for extensions already on the horizon. This long-term stability provides a solid financial bedrock. Latty emphasizes a fundamental philosophy underpinning this strategy: "Controllable revenue — matchday and commercial — is what I’m focused on. 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." This focus on self-generated income streams provides a crucial buffer against the inherent volatility of on-pitch results and associated media rights.

Looking ahead, a significant financial uplift is anticipated as Liverpool transitions from Nike to Adidas on August 1. The new kit deal is widely expected to substantially exceed Nike's previous $75 million annual agreement, further bolstering the club's commercial coffers. Crucially, unlike many of their competitors who outsource retail operations, Liverpool maintains direct control over its merchandising, allowing for greater profit margins and direct engagement with consumers. This integrated approach, coupled with a relentless pursuit of excellence off the field, perfectly aligns with Latty’s broader vision: "We're one of the biggest clubs in the world and we want to act like it. That's the case both on and off the field." This commercial triumph not only solidifies Liverpool's financial standing but also sets a new benchmark for sustainable growth in elite football.