Liverpool are set to announce this month their annual revenues have soared beyond the £500million mark, Football Insider understands.

The Champions League holders are due to post their latest set of financial results within the next two weeks.

A Liverpool source has told Football Insider that figures are set to be released that show turnover rocketed beyond £500m for the latest accounting period.

Liverpool last annual report for the 2017-18 season showed their revenue rose from £364.5m to £455.1m.

It further swelled in 2018-19 to a record sum as they went one better than the previous year and won the Champions League.

However, profits are not expected to reach last year’s level, when Liverpool posted a pre-tax profit of £125m, the highest ever registered in the Premier League.

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That figure was given a significant boost by the £140m-plus sale of Philippe Coutinho to Barcelona in January 2018.

An increased wage bill – it was worth £264m in 2017-18 – has also had an impact on profits as Liverpool kept hold of the prize playing assets instrumental in their dominance of English and European football.

Nevertheless, Liverpool are set to announce increases in the three principal revenue streams – broadcasting, matchday and commercial income.

The club finished two places higher in the Premier League table last season – second compared to fourth in 2017-18 – and defeated Tottenham to win their sixth Champions League crown.

In other Liverpool news, it can be REVEALED that the club are preparing a blockbuster £50million-plus offer for proven star.