Liverpool not only won the Premier League last season under Arne Slot, but also drew level with Manchester United in terms of titles in the process. In the end, the Reds collected just six fewer points than the Old Trafford side and Everton combined.
Things could not have gone much better in Slot's first campaign at the helm. Liverpool reached the final of the Carabao Cup and was unfortunate to draw PSG in the last-16 of the Champions League, but winning the trophy that they coveted the most, the Reds outdid expectations and then some.
On the field and off it too, things are going well for Liverpool. And it is for that reason that a club-record move for Florian Wirtz, for instance, with talks ongoing, is a realistic possibility.
According to research from The Sponsor, Liverpool is the Premier League's most valuable club when it comes to sponsorship at the moment. It estimates that the Reds' front-of-jersey sponsor worth would be around $90 million (£66 million) per season.
That figure has increased from last season, when Liverpool was already placed as the English top flight's most marketable asset. Star players like Mohamed Salah and Virgil van Dijk are cited as one reason why, alongside generally sustained high performance.
Liverpool won the league this season but has only dropped out of the Champions League once in recent times after moving back into Europe's top competition under Jurgen Klopp. And that extra visibility is hugely valuable.
Key FSG and Liverpool FC figures including John Henry, Billy Hogan and Arne Slot pose for a photo with the Premier League trophy.
Key FSG and Liverpool FC figures including John Henry, Billy Hogan and Arne Slot pose for a photo with the Premier League trophy. (Image: Liverpool FC via Getty Images)
Manchester United, in contrast, has finished in the bottom half of the Premier League table, and after losing the Europa League final, will not be playing in any European competition next season.
Clearly, the Old Trafford outfit's history still holds weight, but the longer it is before it becomes successful on the pitch again, the more that will wane. And now out of European competition for a season, that reduces the commercial allure too.
"I am embarrassed that in 26 games, we have won six. Something is wrong with the way we are playing football," Manchester United head coach Ruben Amorim told Sky Sports.
"Sometimes it is not about the way we play tactically, it is the way we face competition and suffer. When we get mad about losing.
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"Everything we have been through, I have a clear picture and a clear feeling of what this team needs to be so much better. It is not just on the pitch, it is outside the pitch. We have all the conditions to be better."
Under FSG, Liverpool has sought to increase its revenues and remains sustainably run. Last summer, it bought only Federico Chiesa in the transfer market, meaning there is more cash available this time around for several big deals.
Signing Salah and Van Dijk down to big new contracts was obviously costly. But it also plays into the wider appeal that Liverpool holds, which leads to more money coming in.
In previous times, Manchester United was ahead of Liverpool. Particularly during the 1990s, the Red Devils moved ahead of the Reds both on and off the field. Now, though, that has reversed.