While Liverpool have spent heavily recently, many of their best signings have cost absolutely nothing
Liverpool manager Rafael Benitez and Robbie Fowler
Rafael Benitez brought Robbie Fowler back to Anfield(Image: Christopher Furlong, Getty Images)
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Liverpool's transfer activity has come under considerable scrutiny following a disappointing title defence. The Reds invested nearly £450million in overhauling a squad that had secured the Premier League crown.
Alexander Isak (£125m), Florian Wirtz (£116.5m) and Hugo Ekitike (£79m) were among the arrivals, but few have lived up to their hefty price tags during a challenging campaign for Arne Slot.
The Reds have been spending again recently, agreeing to pay an initial £55m for Rennes defender Jeremy Jacquet, who will stay with the Ligue 1 side for the remainder of the season before moving to Anfield.
As Liverpool continue to spend heavily, it's worth noting that many of the club's finest acquisitions have cost them absolutely nothing. Here's a lookback at some of the Reds' greatest-ever free transfers...
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James Milner
Arguably Liverpool's most successful free transfer signing, James Milner had already accumulated 13 years of Premier League experience before his move to Merseyside in 2015 from Manchester City.
Despite being offered a new contract by City, the England international was intent on playing in central midfield rather than continuing in wide positions, which had largely been his role at the club. Following discussions with Brendan Rodgers, who assured him he would play in his favoured position, Milner jumped at the opportunity and was quickly named vice-captain alongside Jordan Henderson.
Milner became a key figure during a successful era for the club, winning every major trophy at the club bar the Europa League throughout his eight-year spell at Anfield. Among his haul of 26 goals and 45 assists for Liverpool, he established the record for most assists in a single Champions League season during 2018/19 with 11.
Liverpool manager Jurgen Klopp (right) and James Milner in discussion during a training session at the AXA Training Centre, Kirkby
James Milner was a wonderful servant to Liverpool(Image: PA)
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Joel Matip
With the honour of being Jurgen Klopp's inaugural signing, Joel Matip signed a four-year pre-contract agreement with the Reds in February 2016 as his Schalke deal ran down.
Prior to his arrival, Liverpool's defence had come under intense scrutiny with Dejan Lovren, Mamadou Sakho and Martin Skrtel failing to impress, but Matip's composed and confident presence at the heart of the backline earned him plaudits.
Virgil van Dijk's signing in 2018 provided Matip with a world-class centre-back partner as the pair formed an imposing defensive partnership. Despite his dependable performances, ongoing fitness issues meant he appeared infrequently during the 2019/20 and 2020/21 seasons, making just 25 appearances across both campaigns.
Matip regained his fitness in the 2021/22 season, regularly partnering with Van Dijk as the Reds pursued a quadruple before ultimately securing a domestic cup double. His final two seasons at Anfield were marred by injuries, after which he was let go in the summer of 2024 and subsequently announced his retirement.
Joel Matip
Joel Matip struck up a strong partnership with Virgil van Dijk(Image: Getty Images)
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Robbie Fowler
Affectionately known as 'God' by fans, Robbie Fowler left Anfield in 2001 as the club's most prolific Premier League scorer with 120 top-flight goals and 171 across all competitions.
Gerard Houllier's preference for a Michael Owen and Emile Heskey strike partnership left him short of regular game time, while a strained relationship with the Frenchman led to a £12million transfer to Leeds United. After an 18-month spell at Elland Road, Fowler moved to Manchester City, where he stayed for three-and-a-half years before making an emotional return to Anfield in January 2006.
Although Fowler wasn't technically a free agent, City willingly let him leave without a fee to reunite with his boyhood club. Despite managing just 39 appearances and scoring 12 goals during his second stint, taking his overall Liverpool tally to 183, a new generation of fans got the chance to see Fowler don the famous red shirt again.
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Markus Babbel
The former Germany star joined Liverpool in 2000 as a decorated champion. Among his 11 medals before arriving at Anfield was Euro 96 gold.
Babbel was so committed to joining the club that he reportedly rejected Real Madrid, having already given his commitment to Houllier. He was a regular in his first season, appearing in 60 matches and starting every Premier League and UEFA Cup fixture.
Markus Babbel playing for Liverpool
Markus Babbel's Liverpool career was cruelly cut short(Image: Getty)
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The defender won three trophies in his debut campaign, lifting the FA Cup, League Cup and UEFA Cup to enhance his already impressive medal haul. His success continued with the Community Shield and UEFA Super Cup the following season before circumstances took a drastic downturn.
Babbel was diagnosed with Guillain-Barré syndrome and made just six appearances in his second season. GBS is a rare nervous system disorder that can cause paralysis and, in extreme cases, be life-threatening.
He lost the capacity to move his legs and was forced into a wheelchair, being ruled out for almost an entire year. Although he managed to return to playing in August 2002, Babbel was never quite the same footballer after his struggle with GBS, making only seven further appearances for Liverpool before moving to Stuttgart in 2004.
Gary McAllister
Gary McAllister joined Liverpool in 2000 on a free transfer from Coventry at 35 years of age but he left a lasting impression on the Anfield supporters during a two-year stint. The midfielder turned out to be a key player for Houllier, who praised the Scotsman as his "most inspirational signing".
McAllister played in 49 matches as Liverpool clinched a treble of trophies, scoring several memorable goals, including his spectacular 44-yard free-kick winner against Everton deep into extra time.
He also scored a crucial penalty against Barcelona in the UEFA Cup semi-final and contributed one goal and three assists in Liverpool's thrilling 5-4 victory over Alaves in the European final.
Gary McAllister scores from the penalty spot in Liverpool's thrilling UEFA Cup triumph in 2001
Gary McAllister scores from the penalty spot in Liverpool's thrilling UEFA Cup triumph in 2001(Image: Liverpool Echo)
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Adrian
Despite only making 26 appearances over five years at the club, the Spanish goalkeeper can boast of helping secure silverware in just his second appearance.
Adrian's second game for Liverpool was in the 2019 UEFA Super Cup final against Chelsea, a match that went to extra time and penalties after the teams were tied at 2-2 after 120 minutes.
Liverpool line up July 2022
Adrian was a popular figure despite playing just 26 games for Liverpool(Image: NIGEL RODDIS/AFP via Getty Images)
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The former West Ham keeper became the hero of the night when he saved Tammy Abraham's penalty, securing Liverpool's fourth Super Cup win.
His exceptional performance and crucial penalty save led to Klopp's iconic shout of "Adrian" - echoing Rocky Balboa calling out to his wife, who coincidentally has the same name as the goalkeeper. Despite playing in only two matches during his last three seasons at Anfield, Adrian remained a fan favourite and popular among his teammates.