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So what is it that has been the bedrock of their success when it comes to making the club and its brand so appealing to commercial partners?

“It’s been largely down to the two big drivers within commercial revenue, which are obviously partnerships and merchandise,” said Liverpool chief commercial officer Ben Latty, speaking exclusively to the ECHO.

“From a merchandise perspective we had a very successful year in terms of when the accounts were released from last season, in terms of the kit sales and also our monobranded product as well.

“I think from a partnership's perspective, the period the accounts covered, we had new new partners in UPS, Peloton, Google, Orion.

I just think we are very fortunate in terms of what we have here as a commercial platform for partners to activate.

I think you see that in the results of our partners renewing as well.”

In addition to new partners, recent years have seen major extensions to commercial partnerships with key partners such as Standard Chartered and AXA, while brands such as Carlsberg are now into a 30th year as a club partner.

It isn’t a case of taking a big cheque for some LED advertising space or shirt and trainingwear space, commercial partners need to see value in what they are spending, and Liverpool’s sponsorship retention points to that being a strong suit of the club.

Said Latty: “It’s worth remembering that in this period we've had AXA who have renewed, extended, upgraded and taken the naming rights of AXA Melwood.

“Carlsberg, that’s obviously a long-term contract that they've signed up to as well, which we don't usually talk about the length of contract, but we felt that was one that we should be giving its significance as well and sort of a footballing record as it relates to 30 years.

“We don t take it for granted though, right?

It takes time and it takes hard work and graft to make sure that we're delivering for them.

“I think the results that you see are sort of a result of the fact that we've got good people in the right places servicing our partners and delivering for partners.

It's so competitive out there, not only in sports but in marketing in general.”

But how long can the incline continue, and what kind of opportunities can Liverpool tap into to keep the needle moving in the right direction to a point where they achieve their vision and surpass their Premier League and European rivals to take top spot when it comes to commercial income?

Latty believes there is still plenty of road left to travel for the club in that regard.

“I think digital data is going to be key to unlocking other opportunities elsewhere,” said Latty.

“Whether that's direct or whether that's supporting some of the key revenue generating areas of the club currently, it will be important.

“That is such things as making rich data available to our partners to utilise, and for our retail business, making sure that we can get rich data to effectively support our retail and merchandising team as well.

They're working with us hand in hand as it relates to what our plans are moving forward.

“I truly believe this and I wouldn't be here if I didn't think so, but I think we've only just scratched the surface in terms of what we can do from a commercial revenue perspective if you think about where we were even just five and six years ago.

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“In terms of our revenue but also the calibre of the partner.