Forbes has released their annual list of most valuable football clubs in the world for 2022, following the end of the season.
Last summer, the Reds were valued at £3.32bn and sat fifth in the list after a pandemic-struck campaign with games being played behind closed doors.
Now, their estimated value has risen by £343m and they have leapfrogged Bayern Munich, finishing fourth on the list.
They also closed the gap on Manchester United, who are still the only English club ahead of the Reds.
Here are the top five most valuable football clubs, as per Forbes:
1) Real Madrid - £4.18bn
2) Barcelona - £4.18bn
3) Manchester United - £3.77bn
4) Liverpool - £3.65bn
5) Bayern Munich - £3.5bn