Liverpool spent £325million in wage expenditure over the last financial year – £41m more than arch-rivals Man United.
That is according to finance expert and Football Insider columnist Kieran Maguire, speaking exclusively after Liverpool released their end-of-year report.
The club posted a pre-tax loss of £46m as turnover fell from £533m to £490m.
The figures account for the 2019-20 campaign in which Liverpool were crowned Premier League champions after a three-decade wait.
Either side of that triumph, Jurgen Klopp’s side won the Champions League and Club World Cup.
Maguire explains that performance-related payouts will factor heavily into the £325m figure as a result.
He told Football Insider correspondent Adam Williams: “My understanding is that Liverpool’s wage structure is very incentivised.
“They have a year-end of 31 May and they won the Champions League in 2019 in June. So the Champions League-winning bonuses are actually included in these results.
“That’s part of the reason for the increase. They then had the Club World Cup, which they won. There would have been bonuses for that included as well.
“The figures have taken some people by surprise because the difference between Liverpool and the likes of Man United is now quite significant.
“But if you win trophies, you deserve the rewards. I think this reflects that Liverpool have an incentivised approach.”
Attitudes towards Liverpool owners FSG are at an all-time low after the collapse of the European Super League.
John Henry, however, appears committed to the club for the foreseeable future after reportedly turning down a £3billion buyout bid.