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Findings show 2017-18 season greatly boosted the Liverpool economy

By Joseph Romano

LIVERPOOL, ENGLAND - JANUARY 05: Liverpool fans hold banners, scarves and flags on the Kop prior to the Emirates FA Cup Third Round match between Liverpool and Everton at Anfield on January 5, 2018 in Liverpool, England. (Photo by Clive Brunskill/Getty Images)
LIVERPOOL, ENGLAND - JANUARY 05: Liverpool fans hold banners, scarves and flags on the Kop prior to the Emirates FA Cup Third Round match between Liverpool and Everton at Anfield on January 5, 2018 in Liverpool, England. (Photo by Clive Brunskill/Getty Images) /
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Liverpool’s last season and current season have not only been fruitful in terms of winning on the pitch, but also in business terms off of the pitch.

According to recent reports, the Red’s run to the UEFA Champions League Final last season was incredibly beneficial for the local economy. Since Fenway Sports Group purchased the club in 2010, the direction of the club has swiftly changed course.

FSG’s success is not only limited to England, as they also hold major stakes in the fifth most profitable MLB franchise in the Boston Red Sox. The Red Sox are worth $2.8 Million and have four World Series titles since 2004. The profitability and success go hand in hand and thus it seems this effect is taking root at Anfield as well.

Deloitte’s Sports Business Group compiled a report that claims Liverpool FC have improved the local economy of the city of Liverpool by a staggering amount of £497 million. The report also adds that the organization brought in £575 million to the United Kingdom as a whole.

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The rampant boost to the Liverpool economy is due to the organization’s employing what equates to 2.3 % of the working population in the city and the club’s proficiency in Europe. The increased frequency of Champions League games has brought more economy to the city. As the Reds advance in the competition, other clubs with large fan bases travel to Anfield for the games.

Most recently in last season’s run to the Champions League final Roma, Manchester City, and Porto all had matches in north-west England. Games of such high magnitude and competition attract visitors from other countries and tourists to flock to Anfield. They bring a large sum of money with them, as they spend on hotels and restaurants among other things when they travel to the city.

This season has been no different in that regard, as Napoli, PSG, and Bayern Munich have already made trips to Anfield. Such an atmosphere can attract football fans from all over the world. They will flock to the city just to be witness to the experience and watch the games in pubs with fellow Reds fans. Liverpool has an international fanbase and a certain allure that attracts such a dynamic scene.

A successful sports club can be vital for a city, as it may be one of the city’s most important sources of revenue. Anfield is becoming a significant source of revenue for Liverpool city based upon these recent numbers.

Another aspect to be gained from an influx of visiting fans is that it bolsters the perception of the city. London is normally viewed as the first stop for a tourist in England. However, the report states that over a quarter of visiting fans would return to the city and approximately 94% claimed they would recommend it to others. This is just one example of how the cycle will continue with much benefit to the club and city.

The more success Klopp’s men have, the more money he will have at his disposal to improve the squad. By the same line of thought, the more freedom the manager has to better the club, the more business will be brought into the city.

Anfield is still a legendary venue for football fans and hosts a number of concerts in the summer months when not in use. Bon Jovi and Pink are booked to perform and will obviously bring a great number of visitors, who once again will bring in a sizable revenue. Estimates are around £4.1 million per act and the concerts can bring in even more tourists than a football match. Their money will play a big role in the city’s economy.

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There are countless advantages to having a sports organization in a city, but having one as legendary and successful as Liverpool has an even greater effect. Jurgen Klopp’s tenure with the club has been a consistent increase and thus has brought a multitudinous number of benefits to the city and community that are at the heart of the club.

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