Liverpool could stand to make as much as £189m per season as a result of the Premier League's latest TV deal.
Last month the Premier League clinched a £1.9bn deal for the US broadcast rights, a deal some £800m per year higher than some executives had been anticipating just weeks before the bidding process closed.
NBC, who have held the rights since 2013, secured them once more for the coming six-year cycle, but they had to pay far more than was originally suggested after ESPN arrived late at the negotiating table to force a second round of bidding, thus driving up the price for the rights, something that was music to the ears of Premier League club owners.
The US deal means that for the first time the international rights are worth more than the domestic ones, with the total Premier League TV deal now worth around £10bn annually. That represents an enormous leap from the £304m over five years that was shared between the 20 member clubs when the Premier League was founded back in 1992.
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For owners it creates greater revenue and provides some more cost certainty, but unsurprisingly it will be the teams that are vying for honours at the right end of the table who will be the ones to benefit most from the deal.
Figures presented on social media by football finance expert Swiss Ramble estimated the kind of revenues that the new TV deal would create for Premier League clubs, forecasting results by using last season's league positions and amount of times featured on television.
The domestic TV money is split three ways.
As part of the equal share, 50 per cent of the domestic revenue is split between the clubs equally at £32.2m, with 25 per cent then made up of facility fees paid each time a club appears on TV, and 25 per cent accounted for through merit payments based upon the position finished in the league.
Using last season as an example, but using the figures that are set to kick in from 2022, Liverpool's third placed finish would have seen them land £181.1m, a rise of £23m on the sum that was actually received through the current deal due to expire. Liverpool's actual sum received for that season from TV revenue was £158.6m.
The Reds made more appearances on TV that any other club, featuring 28 times, meaning that a facility fee payment of £26.5m would have been recorded based on the new deal. For context, the bottom side in the Premier League that season, Sheffield United, would have received just £9.5m for featuring in 10 live games.
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Overseas TV money is dished out to clubs through a 69 per cent equal share and 31 per cent merit payment. Liverpool and the rest of the Premier League can expect £48.2m to arrive via equal share payments, with merit payments scaling from £40.9m for the Premier League winners to £2m for the bottom club from 2022. Every club has previously received £5m of commercial revenues.
Say Liverpool won the Premier League in the 2022/23 season and featured 28 times on TV, as they did in 2020/21, they would stand to pocket £188.8m in TV money. If you were to compare that to the season when they won the Premier League in 2019/20 then they secured £152.4m through the existing deal, £36.4m less than they would receive if they were to repeat that feat next season.
This doesn't take into account Champions League TV money which for the Reds comes in around the £20m mark based on recent seasons.
With success in the Premier League and the Champions League so financially lucrative, there has never been more importance placed upon the biggest clubs achieving success on the pitch. And with Liverpool's model under Fenway Sports Group being predicated on a strong business providing the foundation, something which has grown due to FSG's ability to leverage recent successes, the Reds owners will have to plot a way to maintain the club's position challenging at the very top.