Liverpool spent big last summer to bring in the likes of Alexander Isak and Florian Wirtz, but Andoni Iraola's roster is in need of more quality and depth before the new campaign
06:00, 21 Jun 2026
Andoni Iraola in the dugout at Nottingham Forest.
Andoni Iraola in the dugout at Nottingham Forest.(Image: Robin Jones - AFC Bournemouth via Getty Images)
Liverpool, it would be fair to say, was in transition last season. It spent around $600M on new players last summer, bringing around half of that sum back in through sales, and there was a major turnover.
Arne Slot paid the price for that in a couple of ways. His side was imbalanced, and he didn't have the tools required to mount a title charge; Liverpool was also lacking in depth and numbers, with injuries biting.
A year on, though, more work will need to be done. The Reds have already signed Victor Munoz from Osasuna, and are hoping to snap up Yan Diomande from RB Leipzig too. That won't be the end of their work.
Jeremy Jacquet will come in for around $83 million (£60 million) in a deal that was agreed a few months ago, but any more outgoings would mean new additions being required to replace them.
And while Liverpool spent an uncharacteristically high sum in the last summer transfer window, there is still room to spend big again in the future, for a variety of reasons.
"They're already looking to spend more than I'd imagine they would spend, to be honest with you — I thought this would be a much quieter summer after last season," football finance expert Stefan Borson told Football Insider.
New Liverpool head coach Andoni Iraola.
New Liverpool head coach Andoni Iraola.(Image: Andrew Powell/Liverpool FC via Getty Images)
"But I guess the injuries have changed things, plus Mohamed Salah leaving and Hugo Ekitike, who will probably miss most of next season. That changes what you need.
"I mean, they are going to end up spending £250M (c. $330M) minimum, which I'm surprised about.
"Salah was paid an absolute fortune, so that's going to be a nice saving. But they've got to replace him. I don't think the wage bill is going to come down for next season, that's for sure.
"Liverpool are a very successful club commercially and financially, so there's nothing to worry about. But clearly, as with all these teams, there's a limit. You can't just keep spending forever."
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Salah's wages were enormous, so that is a huge saving on its own. Andy Robertson and Ibrahima Konate were on substantial amounts, too, even though none of the trio brought in a transfer fee.
And in addition to that, Liverpool got back into the Champions League, which is huge for revenue, and has a growing list of partners and sponsors.
It is understood that the Reds have already signaled to RB Leipzig that they are willing to go as high as €100 million ($115 million/£85 million) to sign Diomande, which shows there is big money in the coffers. Beyond that, Liverpool might need reinforcements in midfield and at right-back, too.
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Clearly, though, the spending power is there. So too is the need to ensure Andoni Iraola has the roster that he requires to be an instant success.