Liverpool Football Club (/ˈlɪvərpuːl/) 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 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,[3] and the world's eighth most valuable football club in 2016, valued at $1.55 billion.[4] The club holds many long-standing rivalries, most notably the North West Derby against Manchester United and the Merseyside derby with Everton.