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Liverpool will face Paris Saint-Germain in the Champions League last-16(Image: Francesco Scaccianoce - UEFA/UEFA via Getty Images)

Liverpool have multiple incentives for wanting to achieve success on the pitch this season, particularly in the Champions League.

The Reds will face Paris Saint-Germain on Wednesday night in the first leg of their last-16 tie in the competition.

Arne Slot's side finished top of the league phase of the new-look Champions League, with seven wins out of their eight matches.



Only a defeat to PSV Eindhoven in the final fixture stopped Liverpool from achieving a 100 percent record in the initial phase of the tournament.

As well as trying to win what would be the seventh European Cup in the club's history, progressing further in the Champions League will see Liverpool earn significant financial rewards.

The Reds have already banked millions of pounds thanks to their first-place finish in the league phase of the competition.

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Thanks to winning seven out of their eight league phase matches, Liverpool received £12.4million in prize money.

A total of £9.3million was earned for reaching the last-16 of the Champions League, plus a further £8.2million for finishing at the top of the league phase standings.

An additional £1.6million was earned for finishing in the top eight.

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This means that Liverpool have already earned £46.8million just from performance-related bonuses in the Champions League this season.