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The financial picture for Liverpool for 2023/24 was one heavily impacted by the lack of Champions League football.

It doesn’t give much of an insight into what the current financial situation of a club is.

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For Liverpool, the picture for 2024/25 will be significantly different, and that points to the confidence in spending big this summer on the likes of Florian Wirtz, if that potential £126m deal does indeed get done, and moves for Jeremie Frimpong, a done deal, and possibly Bournemouth’s Milos Kerkez in a £45m move.

The losses for 2023/24 could be pretty easily explained away.

For Liverpool, the 2023/24 period alone saw a drop in media revenues of £38m.

The reason for the focus on this right now is that Liverpool’s financial year for 2024/25 came to a close at the end of May.

The Reds are now into a new cycle while much of the Premier League still have some weeks to run before they kick over.

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The 2024/25 period will be a 12-month stretch that includes a return to the Champions League, where the club had a superb league phase that delivered huge revenues before seeing their interest ended in the last 16 by eventual winners Paris Saint-Germain.

It will also, of course, include the Premier League title success, which will bring with it several million more in terms of merit payments from the Premier League.

So what might be expected from the 2024/25 financial year for the Reds, something that won’t be made public until around February time next year.

It will be far brighter, that is for certain, and it seems highly likely that the Reds will return to profit, potentially up to £20m and beyond.

Add into that the £90m-plus revenue generated from a run to the last 16 of the Champions League, where they were defeated by Paris Saint-Germain after topping the league phase, and that sum, including additional matchday revenues from five extra home games, and the financial situation is rosy at Anfield.

That £90m, taking into account that the Reds earned around £23m from the Europa League in the 2023/24 accounts, plus the additional £10m from the Premier League, allied with an expected rise in commercial revenue, potentially up to around the £335m/£340m mark thanks to new partnerships, means that the club could have booked more than £100m in terms of revenue over and above the previous financial year.

Player trading also needs to be factored in, with the added amortisation costs of Giorgi Mamardashvili and Federico Chiesa last summer, while the sales of Fabio Carvalho (£25m to Brentford), Sepp van den Berg (£20m to Brentford) and Bobby Clark (£10m to Red Bull Salzburg) all representing significant profit, pure profit in the case of Van den Berg and Clark.

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It is very likely that Liverpool will tick over into the £700m territory for revenue for 2024/25, potentially £710m or a little more, although there will be some increase in the wage bill through bonus payments for success and contract extensions.