Liverpool's successful Champions League campaign last season is one of the big reasons behind a turnover increase of nearly £80million for 2019.

A new broadcasting deal for the continent's flagship competition helped bolster the accounts as the Reds secured a sixth European Cup with a 2-0 win over Tottenham in Madrid on June 1.

A second-placed Premier League finish also helped boost the Liverpool coffers as the club announced a before-tax profit of £42m on Thursday morning for their most recent financial period.

A record-breaking year at Anfield saw the club post a turnover of £533million in total, with all three revenue streams posting significant growth.

Match revenue is up by £3.5m to £84m, while media in-take grew by £41m to £261m. The commercial side of the operation is also thriving, with £34m earned to finish on a total of £188m for a cut-off date of May 31, 2019.

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The ECHO understands that most of the Champions League fortune was already earned prior to the final against Spurs which kicked off in Madrid the day after the cut-off point for the latest financial results.

Winning the European Cup reportedly earns clubs around £65m, but the lion's share of that prize fund was banked prior to the Reds' victory over the Londoners at the Wanda Metropolitano in the Spanish capital.

It was a financial year that saw Liverpool maintain seventh position in the Deloitte Money League behind Manchester City, Paris Saint-Germain, Bayern Munich, Manchester United, Real Madrid and Barcelona.

The year includes the summer spending spree of 2018 when Liverpool embarked on the biggest transfer window in their history to bring Alisson Becker (£65m), Naby Keita (£52.5m), Fabinho (£39.3m) and Xherdan Shaqiri (£12m) to the club.

The unusual deal that saw Liverpool strike an agreement with RB Leipzig nearly a year before Keita's eventual switch to Anfield is included in the results, it is understood.

The period includes the outlay on the Reds' brand new £50m training base in Kirkby, which remains on course to open its doors to the playing staff this summer.

Liverpool FC finances

It is a financial year that covers the contract extensions of 11 first-team players such as the likes of captain Jordan Henderson, Roberto Firmino, Mohamed Salah, Andy Robertson, Trent Alexander-Arnold, Divock Origi and Alex Oxlade-Chamberlain.

International expansion remains at the forefront of the thinking at Anfield with the Reds now able to boast a retail partnership in Malaysia and e-commerce helping them to ship official merchandise to as many as 190 countries worldwide.

Liverpool's digital footprint is growing too, with the social media following undergoing a giant 26 per cent increase up to nearly 70m across all platforms.

Their YouTube channel is the most followed in the Premier League at 2.5m while a total of 58m engagements were recorded across last term - six million more than any other top-flight side.

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Liverpool FC accounts

The increase in commercial activities and partners has also helped Liverpool pocket a sizable sum with their first-ever training kit deal with insurance firm AXA one of nine new link-ups during the financial period.

"This continued strengthening of the underlying financial sustainability of the club is enabling us to make significant investments both in player recruitment and infrastructure," Liverpool chief operating officer Andy Hughes said.

"Being able to reinvest over £220m on players during this financial period is a result of a successful business strategy, particularly the significant uplift in commercial revenues.

"The cost of football however does continue to rise in transfers and associated fees but what’s critical for us is the consistency of our financial position, enabling us to live within our means and continue to run a sustainable football club.

"What we’re seeing is sustained growth across all areas of the club which is aligned to the recent performance on the pitch.

"Since this reporting period we have continued to reinvest in the club’s infrastructure, and we look forward to the opening of our new training base at Kirkby ahead of the new season which will provide first class facilities for our players and staff.

"We have also just completed a second phase consultation on a proposed expansion of the Anfield Road Stand which could see an increase in the stadium’s capacity, giving even more supporters the opportunity to see the team.

"There is more work to do and, importantly, we will continue our dialogue with all key stakeholders including local residents, businesses and community groups."