English Premier League soccer team Liverpool have announced record pre-tax profits on Friday of £125 million ($162 million) for the last financial year.
The figure includes money made by the club after reaching the Champions League final and was also boosted by the sale of Brazil playmaker Philippe Coutinho to Barcelona for £142 million in January 2018.
The club's annual accounts for the financial year to May 31, 2018 showed pre-tax profits grew by more than 300 per cent from £40 million posted in the previous year.
The strong return means Liverpool overtakes Arsenal into third place in the Premier League's revenue table, behind Manchester United and Manchester City.
League qualification for this current season and progress to the final where they lost to Real Madrid were instrumental in the record profit for Liverpool, which is owned by Fenway Sports Group (FSG) who also own Major League Baseball's Boston Red Sox.
The Merseyside club's turnover increased by £90 million to £455 million, with all three revenue streams — media, commercial and match day — showing improvement.
Media is one area that has seen significant growth, increasing by £66 million to £220 million, while its commercial cash is up by £17 million to £154 million.
"What we have seen is a stable and sustained improvement in the club's financial position over recent years," Liverpool's Chief Operating Officer Andy Hughes said in a statement on Friday.
"This growth and increase in revenue has enabled us to significantly reinvest both in the playing squad and the football operational infrastructure."
The club has also invested in securing the long-term services of its current crop of players, by tying them in to extended contract deals. The likes of top scorer Mohamed Salah, along with fellow forwards Sadio Mane and Roberto Firmino have been amongst those to commit their futures to Anfield.
The club said they have reinvested 190 million pounds into its German Manager Jurgen Klopp's squad as they chase a first top division title in 29 years this season. It paid a world record fee for a defender a year ago, bringing in Virgil van Djik from Southampton for £75 million and goalkeeper Alisson Becker in the summer for £67 million.