Liverpool’s £265m Spend-fest: How it Works and Who’s Next on the Cards

For die-hard Liverpool fans, an old chant rings true: “The Reds have got no money but we’ll still win the league”. Last season’s Premier League title triumph was a testament to this, with a single summer signing of Federico Chiesa for a mere £10 million. But the notion that Liverpool is cash-strapped is far from the truth. The club’s owners, Fenway Sports Group (FSG), have proven time and again that they’re not afraid to shell out the big bucks when it comes to potential game-changers.

Remember the record-breaking fees for Virgil van Dijk and Alisson Becker in 2018? Or the midfield overhaul of 2023 that played a key role in Liverpool’s league triumph last season? Well, fasten your seatbelts because FSG’s current summer transfer spending spree has already hit a staggering £265m – and it’s not over yet. So, how is Liverpool pulling this off, and who else might we see donning the red before the transfer window closes on September 1?

‘Rowing in the same direction’

Liverpool’s record spend this window has left many Reds fans – especially those critical of FSG’s previously perceived frugality – utterly astounded. However, Kieran Maguire, author of ‘The Price of Football’, says that most Reds fans understand and appreciate how the club is run.

“But that’s the people going to the ground every week. The eejits on social media are the problem. They think that the solution to everything is spending £200m on as many players as possible in each and every window,” Maguire tells GOAL.

“I would urge anyone who has criticised Liverpool to read Ian Graham’s book ‘How to win the Premier League’ – because the club’s approach is brilliant. It’s basically, ‘We will only bring players in if they’re of net benefit to the club.’ And that’s it, it’s that simple. Crucially, though, the coach agrees with that approach, the directors agree with it, and the money men agree with that. Basically, at Liverpool, everyone is rowing in the same direction.”

Problem-solving skills

Last summer, when Liverpool’s quest for a defensive midfielder seemed to hit a dead-end, the club’s sporting director Richard Hughes and his recruitment team didn’t panic. Instead, they found the solution within their own ranks. The decision to deploy Ryan Gravenberch in front of the back four proved to be a masterstroke, and it’s this kind of resourcefulness that has made Liverpool a force to reckon with.

Why now?

Despite the success of Klopp’s era, Liverpool felt the need for a revamp. Transfer market reporter Ben Jacobs tells GOAL, “FSG are always willing to back Liverpool managers when there is a need to do so – and this is a time when Liverpool feel they need a revamp.”

“They’re going big now in order to overhaul the squad before there’s a drastic need to overhaul the squad. And that takes the pressure off the players coming in, because they won’t be thrown straight in at the deep end,” Jacobs explains.

Money was always there

Despite the shocking spending spree, Jacobs points out that the money had always been there for a nine-figure fee. Liverpool’s compliance with the Premier League’s Profit & Sustainability (PSR) rules also played a role in their ability to move quickly in the transfer market.

‘Could spend another £150m’

With Liverpool’s business far from done, Maguire reassures fans that the club is in a robust financial position. “Under the PSR rules, you’re allowed to lose £105m over the preceding three years… Liverpool could spend another £150m without running into any PSR issues.”

Dream that could become a reality

With the transfer window still open, there’s a high chance that Liverpool could pull off their dream deal – signing Alexander Isak. According to Maguire, “the key point is that if they want to sign him, that wouldn’t be a problem for them at all from a financial perspective.”

In essence, the Reds do have the money – and they might just win the league again!