Liverpool prize money after reaching Champions League last 16 in huge financial boost

Liverpool booked its place in the Champions League round of 16 with a commanding win over Qarabag, earning hefty prize money so far, though Jeremie Frimpong's early injury added to defensive concerns

Mohamed Salah netted as Liverpool breezed into the Champions League Round of 16.(Image: PA)

Liverpool wrapped up their Champions League group stage with a commanding victory over Azerbaijani underdogs Qarabag, securing their spot in the knockout rounds. The comprehensive win has pushed Liverpool's prize money from the competition to a hefty sum.

The Reds secured a top-eight finish behind Arsenal and Bayern Munich, who had already qualified ahead of Wednesday's final round, earning themselves a substantial financial boost from Europe's premier club competition. The Champions League has offered a welcome break for the Reds and Arne Slot, with the Qarabag fixture proving no exception as they navigated the potential upset.

The match wasn't without its complications, though, as Jeremie Frimpong compounded Liverpool's growing defensive injury crisis after being withdrawn within the opening five minutes with a suspected muscle problem.

This has left Liverpool desperately short at the back, forcing them to field two midfielders in their defensive line for most of the match.

Crucially for Slot and his squad, they sidestepped the two-legged playoff required to progress to the competition's next phase, reports the Liverpool Echo.

They managed this through a comfortable victory against the minnows, with goals from Alexis Mac Allister, Florian Wirtz, Mohamed Salah, Hugo Ekitike and Federico Chiesa. The Argentine netted an unusual headed goal, steering the ball towards goal with goal-line technology confirming Liverpool's opener.

Wirtz extended the advantage soon afterwards when he surged forward before firing low into the bottom corner. Mohamed Salah and Hugo Ekitike found the net in the second half, with Mac Allister adding his second of the evening before a late Chiesa strike provided further polish.

Slot's side will now avoid having two fixtures squeezed into a congested February schedule that includes clashes with Manchester City, Sunderland, Brighton in the FA Cup, Nottingham Forest and West Ham United, having bypassed the first knockout round.

Arne Slot shortly before kick-off in Liverpool vs Qarabag.(Image: Ben Roberts - Danehouse/Getty Images)

In the process, they sidestepped some European heavyweights, with Barcelona, Borussia Dortmund, Inter Milan and Juventus amongst the sides consigned to the playoff rounds.

Liverpool were accompanied in the round of 16 by four fellow Premier League sides in Manchester City, Arsenal, Chelsea and Tottenham, alongside Bayern, Barcelona and Sporting CP.

The final standings mean Liverpool could come up against Juventus, Atletico Madrid, Club Brugge or Galatasaray in the last-16.

From a financial perspective, Liverpool's ability to overcome their sluggish Premier League form has proved particularly lucrative despite surprise losses to Galatasaray and PSV Eindhoven.

This season, a staggering £2.14 billion ($2.95 billion) is on offer in Europe's premier club competition, and whilst Liverpool claimed the top prize last season for finishing first in the league phase - banking £8.4m ($11.6M) for that feat - they have benefited from a substantial financial windfall for their Champions League performances.

Each of the 36 participating clubs receives a base payment of £16.18m ($22.3M), whilst those securing a top-eight finish and progressing directly to the last 16 also pocket an additional £9.56m ($13.2M)

League phase victories are also valued at £1.82m ($2.5M) each, and Liverpool secured six wins after defeating Atletico Madrid, Eintracht Frankfurt, Inter Milan, Marseille and Qarabag. These triumphs proved financially beneficial, generating a combined total of £10.92m ($15M)

Additionally, clubs receive £239,000 ($330,000) per position in the final league standings. Kazakh minnows Kairat will collect that sum after finishing in 36th place at the bottom of the table.

With Liverpool finishing third, it secured £7.8m ($10.8M), with Arsenal and Bayern Munich earning handsomely for their table positions. In total, Liverpool has accumulated an impressive £44.46m ($61.4M) for their European campaign thus far.

Advancing beyond the Round of 16 would see them surpass last season's showing after the Reds were eliminated by Paris Saint-Germain on penalties, earning the six-time champions £9.4m ($13M)

The prize money increases as the tournament progresses, with the quarter-finals and semi-finals worth £10.7m ($14.8M) and £12.9m ($17.8M), respectively. Liverpool's own Dominik Szoboszlai and Milos Kerkez will be particularly keen to reach the final in May, as Hungary's national stadium, the Puskas Arena, is set to host the prestigious match.

Runners-up will pocket £15.9m ($22M), while the champions will be awarded £21.5m ($29.7M), a sum Liverpool will be aiming for, hoping to turn around a disappointing season with the ultimate club accolade.