Liverpool Football Club made a £60m pre-tax profit for the last financial year thanks to the £75m it made from selling Luis Suarez.
Without the boost from the Uruguayan footballer – which the club invested in eight new players – Liverpool would have broken even for the year.
This compares to a £900,000 profit in the previous 12 months.
Total revenue rose by 16.5% to £297.9m, including a 21.5% uplift in media sales to £122.6m.
Commercial revenue also increased, up 12% to £116.3m and matchday sales rose 15.9% to £59m.
“Our real financial position is closer to break even and it is the underlying revenue growth that’s important and provides us with the long-term stability,” said Liverpool FC chief executive Ian Ayre.
“We continue to make solid financial progress and reported growth in our commercial, media and matchday revenues, which continues to add strength to our financial position,” he added.
Fenway Sports Group, the American owner of Liverpool FC, converted £69m of debt into equity in the year as well as sinking £49m into stadium expansion costs.