Liverpool made nearly £500m for local economy in 2017-18 according to study

Liverpool's 2017-18 season was worth nearly £500 million to the local economy, according to a new study.

Liverpool commissioned the Deloitte Business Group to look at the economic impact of matchday and day-to-day activity of the club as 1.5m fans visited Anfield last season.

Jurgen Klopp's side reached the Champions League final and recorded their second consecutive top-four finish in the Premier League. According to Deloitte, the economy of the Liverpool City Region was boosted by £497m gross added value.

Visitors to the city for matches held at Anfield contributed £102m to the local economy with their spending on accommodation, transport, retail and food and drink.

Meanwhile, in September, the club were granted permission to stage concerts at Anfield, with Bon Jovi, Pink and Take That all scheduled to perform this summer. The Deloitte report indicates each event could have a £4.1m economical impact.

"Understanding how our club impacts our region both from an economic and a social perspective is important," Liverpool CEO Peter Moore said. "It's clear that many of our matchday visitors come to Liverpool for the football, but return for the city itself, so there is a longevity and continuous cycle to the impact we're creating."

Earlier this month, Liverpool announced they made a world-record pre-tax profit of £125m in the 2017-18 financial year.

Liverpool are owned by Fenway Sports Group FSG, who also own the Boston Red Sox. They purchased Liverpool in October 2010 in a deal worth £300m.