By Press Association Reporter
Published: 10:30 GMT, 27 February 2020 | Updated: 10:32 GMT, 27 February 2020
Liverpool made a pre-tax profit of £42million last year despite a record £223million investment on players.
While that top line is well below the record £125m profit for the year ending May 2018, the rewards are being felt on the pitch with the club four victories away from winning their first league title in 30 years.
Figures released on Thursday for the financial year to May 31, 2019 incorporate the purchases of Alisson Becker (£65million), Naby Keita (£52.75m), Fabinho (£43.7m) and Xherdan Shaqiri (£13m).
Liverpool have announced huge profits for the year ending May 2019 despite a record spend
The likes of Mohamed Salah (pictured) received big new contracts but the club still made profit
It also includes the increased costs of new contracts for 11 players, including captain Jordan Henderson, Roberto Firmino, Mohamed Salah, Sadio Mane, Andy Robertson and Trent Alexander-Arnold - who have all played a key role in helping Jurgen Klopp's champions-elect establish a 22-point lead at the top of the table.
Some of that cost was offset by sales including Danny Ward (£12.5m), Danny Ings (£20m) and Dominic Solanke (£19m).
Income was also boosted by Champions League success, although as victory in the final in Madrid came in June the prize money from winning a sixth European Cup will be counted in the current financial year.
'This continued strengthening of the underlying financial sustainability of the club is enabling us to make significant investments both in player recruitment and