The financial accounts of Liverpool FC Women for the year ending May 2025 paint a picture of a side growing in stature on and off the pitch, yet one whose economic reality remains starkly overshadowed by the scale of the men’s game and the club’s own executive pay.
On the field, the team finished seventh in the Women’s Super League and enjoyed a memorable run to the semi-finals of the Women’s FA Cup. That campaign included a decisive 5-0 victory over West Ham United in January and a standout 1-0 quarter-final win against Arsenal in March. The season concluded with a managerial change, as head coach Matt Beard departed in late February, succeeded on an interim basis by Amber Whiteley.
Revenue Growth and Strategic Moves
Financially, the women’s side posted significant gains. Its turnover grew by 25% to reach £6.1 million, driven by a 26% rise in commercial revenue. A key strategic decision also paid dividends: moving home matches from a ground-share with Tranmere to the Totally Wicked Stadium in St Helens more than doubled matchday revenue to £340,000.
The club’s overall operating budget increased by 36%, and the wage bill for players and non-playing staff rose by 20% to £3.1 million, covering 49 employees. Before taxes, this group earned a combined £2.7 million.
The Stark Context of Comparative Costs
This growth, however, must be viewed in context. The £3.1 million wage bill for the entire women’s squad and staff is less than 0.75% of the payroll for Liverpool’s men’s first team, which was confirmed in February as the largest in the Premier League at approximately £428 million.
Perhaps more jarring is a comparison within the club’s own corporate structure. According to the accounts, the total remuneration for Liverpool’s nine company directors rose by 9% to £4.2 million, with the highest-paid individual receiving £2.3 million. This means the combined pay of the directors alone exceeded the total wage bill for all 49 players and staff of the women’s team by over £1 million.
The disparity in investment extends to rivals in the Women’s Super League. Arsenal, the only other WSL club to have filed accounts for the 2024-25 season so far, reported a wage bill of £9.9 million before social security and pension costs – more than three times Liverpool’s outlay. Arsenal went on to win the Women’s Champions League that season.
Underlying Fragility and Reliance
Despite recording a profit before tax of £165,000, down from £645,000 the previous year against costs of £5.7 million, Liverpool’s accounts underscore a fundamental fragility common in the women’s elite game. The directors’ report explicitly notes a “reliance” on the parent company for financial support, a point also made in Arsenal’s filings.
This reflects the broader financial landscape of the WSL. While the league’s aggregate club revenues reached £65 million in the 2023/24 season, a significant dependency on men’s team funding persists; direct subsidies from parent clubs are estimated to account for around a quarter of total league revenue.
The directors’ report highlights the central challenge, stating: “The directors consider the principal risks and uncertainties with the running of a professional football club is in relation to salary levels and the aim is to manage these costs within financial restraints, whilst remaining as competitive as possible.”
The chasm in resources is crystallised by the parent club’s own financial performance. Liverpool FC’s men’s operation announced record-breaking revenue of £703 million for the same period, with a commercial income of £323 million alone – over 50 times the entire turnover of the women’s team.
