Claim: Liverpool F.C. had an annual revenue of $391 million at one point.

Liverpool Football Club -LRB- -LSB- ˈlɪvərpuːl -RSB- -RRB- is a professional association football club based in Liverpool , Merseyside , England . They compete in the Premier League , the top tier of English football . The club has won 5 European Cups , 3 UEFA Cups , 3 UEFA Super Cups , 18 League titles , 7 FA Cups , a record 8 League Cups , and 15 FA Community Shields .   The club was founded in 1892 and joined the Football League the following year . The club has played at Anfield since its formation . Liverpool established itself as a major force in both English and European football during the 1970s and 1980s when Bill Shankly and Bob Paisley led the club to 11 League titles and seven European trophies . Under the management of Rafa Benítez and captained by Steven Gerrard Liverpool became European champion for the fifth time , winning the 2005 UEFA Champions League Final against Milan in spite of being 3 -- 0 down at half time .   Liverpool was the ninth highest-earning football club in the world for 2014 -- 15 , with an annual revenue of $ 391 million , and the world 's eighth most valuable football club in 2016 , valued at $ 1.55 billion . The club holds many long-standing rivalries , most notably the North West Derby against Manchester United and the Merseyside derby with Everton .   The club 's supporters have been involved in two major tragedies . The first was the Heysel Stadium disaster in 1985 , where escaping fans were pressed against a collapsing wall in the Heysel Stadium , with 39 people -- mostly Italians and Juventus fans -- dying , after which English clubs were given a five-year ban from European competition . The second was the Hillsborough disaster in 1989 , where 96 Liverpool supporters died in a crush against perimeter fencing . The team changed from red shirts and white shorts to an all-red home strip in 1964 which has been used ever since . The club 's anthem is `` You 'll Never Walk Alone '' .