James Pearce: Liverpool smash commercial records with Adidas and Asia expansion | OneFootball

Liverpool’s Global Game: Revenue, Reach and a Reset with Adidas

Social supremacy and a shifting landscape

Liverpool have not so much moved into a new commercial era as they have pole-vaulted into one. The headline figure, 1.7 billion social media engagements last season, is dazzling enough on its own. But more telling is the April spike of 60 million on the day Arne Slot’s side clinched the Premier League title.

In an era where clicks are currency, Liverpool are minting their own. More engagements than the top 10 NBA and NFL teams combined, and now more commercial revenue than Manchester United. That last stat is a marker in the turf. In 2023-24, the club generated £308 million commercially, overtaking their rivals’ £303 million and making it the first time in the Premier League era they have done so.

As chief commercial officer Ben Latty put it to The Athletic: “There’s been a step-change in terms of our revenue, but there’s still a lot of room for us to grow.” His focus is clear: matchday and commercial income are the controllables, while media money is subject to the whims of on-pitch fortune.

Asia’s gravitational pull

Of the nearly quarter-billion Liverpool fans said to reside in Asia, many will never set foot inside Anfield. And yet they’re central to the club’s commercial orbit. Nine of Liverpool’s 20 global standalone retail stores are in Asia. Supporters’ clubs number 48 across the continent.

The pre-season tour, featuring stops in Hong Kong and Japan, is no accident. “Football preparation is paramount,” says Latty, “but the football-operations team understand the commercial value of these tours, too.” These trips are the product of collaboration between the commercial and sporting departments. Stadiums, training facilities, opposition, and sponsor alignment all play a part.

Japan Airlines and publisher Kodansha headline a growing list of Asia-based partners. The strategy is not simply about selling shirts but building lasting relationships and structures, like the newly opened flagship store in Hong Kong.

Global deals, local execution

Liverpool’s commercial reach now stretches into deals with UPS, Peloton, Orion Innovation and Google Pixel. But it is the Adidas contract, launching officially on August 1, that promises to reshape the club’s merchandising strategy.

Until now, Nike have been the supplier. Their five-year stint ends with Liverpool wearing last season’s kit one final time in their friendly against Yokohama F. Marinos. August 1 will bring the first of three new kit launches with Adidas, staggered over the coming days.

“It’s just the reality of the situation,” Latty noted on the Nike contract ending after the Asian tour. There was no room for Adidas to start early, and Liverpool were clear in honouring their commitments. Still, the pivot is significant.

Credit: Footy Headlines

The Adidas deal, though officially confidential, is expected to comfortably eclipse the previously rumoured £60 million per year Liverpool received from Nike. The German brand also offers flexibility. Under the agreement, the club can continue to produce and sell its own merchandise, a key differentiator that allows for localised control and global scalability.

Commercial backbone now defines club growth

Liverpool’s retail operations remain in-house, unlike rivals who outsource merchandising. This allows for tailored distribution and fan-focused strategies. “We do everything ourselves,” Latty said. “Having flexibility and ensuring we get the product into the hands of our fans around the world through the right distribution network is really important.”

There is something more philosophical at play here. While the squad trains in Japan, the club is reshaping what it means to be a global footballing brand. Shirt deals and social metrics are not distractions from football, they are now part of the very fabric that funds success on the pitch.

As Latty put it: “At this time, I don’t believe there’s any bigger football club than Liverpool.” A statement of intent. A declaration of arrival.

Our View – Anfield Index Analysis

From a Liverpool supporter’s perspective, this report confirms what many have suspected: we are no longer just part of the elite, we are setting the pace. The commercial numbers are enormous, but it’s the structure behind them that stands out.

For years, we watched United boast of their financial firepower while the football suffered. Now, we are not only catching up commercially, but doing it with a team that has just won the league. That is the dream.

The Adidas deal is exciting because it feels tailored for us. The ability to produce and sell our own merch means more uniqueness, more control and more revenue flowing directly into the club. And with the new kits launching in August, the appetite will be huge.

Asia’s significance also can’t be overstated. The support there is massive, and it’s great to see the club genuinely investing in those relationships, not just turning up for photo ops. The Hong Kong store, the supporter groups, the integration of commercial and football priorities, it feels like Liverpool are acting with clarity and class.

We used to talk about catching City. Now it feels like others are looking at us the same way.