Liverpool financial results: Reds make pre-tax profit of £60m after Luis Suarez sale

Accounts go up to the year ending 31 May, 2015

Liverpool made a pre-tax profit of £60million in their latest published accounts but the figures were skewed entirely by the sale of Luis Suarez to Barcelona.

The Uruguay international's departure in the summer of 2014 meant the entire £75m transfer was recorded in the accounts for the year ending May 31, 2015.

However, all that income was immediately reinvested by then manager Brendan Rodgers in eight new players. That cost has been spread over the course of their long-term contracts, and the club have also awarded new deals to the likes of captain Jordan Henderson, Philippe Coutinho, Kolo Toure and Jordon Ibe.

It meant the accounts record, on paper, a massive profit when in reality taking the Suarez fee - which is payable in instalments - and subsequent player spending out of the equation the club would have just about broken even. They made a £900,000 profit the previous year.

But the club are generating cash to spend and Press Association Sport understands boss Jurgen Klopp will have the biggest transfer fund of any Liverpool manager at his disposal this summer, with all top-flight clubs set to be boosted by the huge new television deal which comes into effect next season.

He is likely to need it as the German looks set to offload a number of under-perfoming players like £32.5m striker Christian Benteke, who is currently third-choice but only because Danny Ings is not yet fit.

"We continue to make solid financial progress and reported growth in our commercial, media and matchday revenues which continues to add strength to our financial position," said chief executive Ian Ayre.

"Last year we saw a small profit for the first time in seven years which demonstrated our recent progress

"This year the profit reported has significantly increased, which is mainly a result of the sale of Luis Suarez in July 2014 and that has already been reinvested into the playing squad.

"Our real financial position is closer to break-even and it is the underlying revenue growth that's important and provides us with the long-term stability."

The club's commercial revenue increased by 12 per cent to £116.3m following the announcement of 12 new partnerships and renewals and the opening of 180 new retail outlets worldwide.

Media revenue grew from £100.9m to £122.6m due to Champions League participation in the 2014-15 Champions League and reaching the semi-finals of the FA and League Cups, which also had the knock-on effect of boosting matchday revenue by 15.9 per cent to £59m because of the additional matches and hospitality income.

The accounts show owners Fenway Sports Group wrote off a £69m loan by converting it into equity, while also investing £49m in stadium expansion costs with the renovated, increased capacity Main Stand due to open for the start of next season.