Both Liverpool and Chelsea can make a strong case for having enjoyed the best summer window in the Premier League after breaking multiple transfer records
Arne Slot and Enzo Maresca shaking hands
Liverpool and Chelsea have both spent lavishly this summer
Chelsea legend Pat Nevin believes his former club enjoyed a more successful transfer window than Liverpool, despite the Reds' record-breaking summer spree. Liverpool dominated headlines by smashing the British transfer record twice in succession.
They ultimately spent £446million - the largest outlay in Premier League history. Big-name arrivals such as Alexander Isak, Florian Wirtz, and Hugo Ekitike highlighted their lavish approach.
Chelsea's business, by comparison, was less extravagant, but it was hardly restrained, with the Blues still investing £284m in new signings. While it will likely take time to gauge the true impact of each club's summer activity, Liverpool undoubtedly stole the show.
However, Nevin argues that Chelsea's more measured recruitment strategy - targeting young talent with strong resale value - is the smarter long-term play, and one that could yield greater rewards than Liverpool's high-risk, high-reward spending.
He also warned that if costly signings like Isak fail to deliver, Liverpool will not only be stuck with an underperforming, highly-paid player, they'll also struggle to sell him, particularly for a profit.
"This is Chelsea's method. They won't buy players without a potential resale value. It's happened with plenty of clubs in the past where they've spent big on a player, and when it doesn't work out, there's no resale. Chelsea don't like that. That's not the model."
Alexander Isak signing his contract for Liverpool
Pat Nevin thinks signing Alexander Isak for such a big fee represents a huge risk for Liverpool
Nevin, who spent five years as a player at Stamford Bridge, went on to suggest that Liverpool might have overpaid for their marquee summer signings - particularly when compared to the players Chelsea secured in the same positions.
"The club have brought Joao Pedro in for half the price of Isak. Is Isak really twice the player that Joao Pedro is? I don't think so," the former Scotland international said. "He's a fabulous player, he's probably better than Joao Pedro at the moment, but if you're looking at smart money, then Chelsea have got the better deal.
"Chelsea would have made back that Joao Pedro money from the sales they've made this summer and from the Club World Cup as well. The model looks alright to me. Don't get me wrong, Chelsea have spent a lot of money, but they've recouped that money as well.
"Chelsea are right amongst the top when it comes to spending over the past few years, but they would say they've been sensible. They're back in the Champions League, they've won the Club World Cup, so actually, you can see the model is working.
Joao Pedro celebrating a goal at the Club World Cup
Joao Pedro is proving excellent value for money for Chelsea
"Some of the players they've brought in are great value," Nevin, who also played for Everton, added. "Estevao might be the best value of the lot. He's only a kid, but he looks like a brilliant footballer. If he's this good now, you can only imagine how good he'll be if he keeps on improving.
"So, the way Chelsea look at it is, do we go for this talented 18-year-old or go out and sign Florian Wirtz for £100m+? You'll only know in three or four years who was right, but I think it's a close call from what I've seen."
Chelsea have proven themselves masters of selling in recent windows. In recent weeks, stars such as Noni Madueke, Nicolas Jackson, Joao Felix and Renato Veiga have all been sold - or in Jackson's case, loaned out - for substantial fees, despite failing to deliver standout performances in west London.
Their willingness to cash in for profit, combined with a sharp eye for bargains, has left them in a strong financial position, even as one of the world's most extravagant spenders. This summer alone, Chelsea generated a record £287m from player sales, leaving them with a net spend of -£3m.
Noni Madueke signing his Arsenal contract with Mikel Arteta and Andrea Berta
Chelsea have mastered the art of players sales, raking in big fees for players who didn't exactly set the world alight, like Noni Madueke
Liverpool, meanwhile, hold a similarly solid position, albeit via a different approach. Their patience in the transfer market - spending heavily only when it counts - has paid off handsomely. Players like Mo Salah, Virgil van Dijk, Alisson, and Fabinho have justified their hefty price tags, becoming cornerstones of the squad.
The champions will be hoping to replicate that success with signings such as Isak, Wirtz, and Ekitike - but if any fail to deliver, the club risks £300m in wasted investment. Expensive flops like Darwin Nunez and Naby Keita - signed for a combined £140m - both proved difficult to shift and temporarily strained the club's finances, and the club will keen to avoid repeating the same mistakes.
Chelsea, by contrast, are trying to steer clear of such high-stakes gambles. Instead, they are betting on less proven, lower-profile talent to close the gap on the teams above them in the table - a far cry from their relentless, lavish spending under former owner Roman Abramovich.
They have, of course, spent heavily on certain players, with more than £200m invested in Enzo Fernandez and Moises Caicedo, for example. But for the fourth consecutive window, no single signing has cost more than £55m - a sum Liverpool exceeded three times just this summer.
Arne Slot and Florian Wirtz
Liverpool have had great success with buying big in recent years
Chelsea's strategy may not grab the headlines like it used to, but it reflects a long-term vision rooted in sustainability and smart investment. If Nevin's assessment proves correct, the coming seasons could see the Blues reaping the rewards of patience and prudence.
Liverpool, however, have an impressive track record of success when spending big, and it's that calculated assertiveness that could ultimately keep them a step - or two - ahead of Chelsea.
Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.