In the wake of Liverpool’s Premier League triumph, Arne Slot confessed that his side had already begun planning ahead to next season.
Liverpool wrapped up the league title nice and early and Richard Hughes has seemingly wasted no time on the transfer front.
Liverpool are close to signing Florian Wirtz from Bayer Leverkusen, and that follows significant progress in deals for full-backs Jeremie Frimpong and Milos Kerkez as well.
The Reds are operating like champions both on and off the pitch right now.
However, with the recruitment of a new striker still very much on the radar this summer — how much money will actually be left to sign Slot a new number nine?
How much money can Liverpool spend on a new striker?
To answer that question, Head of Football Finance at TBR Football Adam Williams has analysed Liverpool’s chances of dropping £100m or more on a new goalscorer.
Liverpool relied on a combination of Darwin Nunez, Diogo Jota and Luis Diaz playing centrally last season, but it’s clearly an area of the squad in need of an upgrade.
Taking stock of Liverpool’s rumoured spending so far, Williams told TBR: “If Liverpool sign all three of Wirtz, Frimpong and Kerkez at the fees currently being reported, it’s going to cost them the thick end of £160m.
“Assessing how much a club can spend in any given window isn’t an exact science but, broadly speaking, there are three factors you need to take into account.
Photo by Jan Fromme - firo sportphoto/Getty Images
Photo by Jan Fromme – firo sportphoto/Getty Images
“1) Do they have PSR capacity, 2) does the club have actually cash in the bank to spend and 3) do the owners want to put money into the club if not?
“For the PSR element with Liverpool, they have got ample room to manoeuvre.
“The £57m they lost in 2023-24 will probably turn into maybe a £30m loss when you add PSR-allowable expenditure like women’s team and infrastructure spending back into the equation.
“We won’t have their accounts for 2024-25 for another 12 months yet, but they are going to post a healthy profit that will mean they are at break-even point or better as far as PSR is concerned.
“So neither Premier League nor UEFA PSR is a factor for them.
“They’ll have very healthy cash reserves after a season of restraint in the transfer market, plus you get a big tranche of UEFA and Premier League prize money after the season concludes.”
FSG could force Liverpool to sell players in Alexander Isak pursuit
In an ideal world, Liverpool want to sign Alexander Isak from Newcastle United, who remains their first choice striker.
And whilst a deal appears unrealistic just in terms of Newcastle’s determination to keep the Swede alone, FSG’s track record of investing into the playing side of the club could also be an issue to navigate.
Speaking about FSG’s spending, Williams continued: “FSG have historically been reluctant to load the club with transfer debt, AKA pay in instalments.
“They were mid-table in terms of the amounts they owed clubs in instalments in the last financial year, with debts of £128m compared to the rest of the ‘Big Six’, all of whom owed £230m-plus. Wolves, Newcastle, Leeds and West Ham all owed more too.
Photo by Carl Recine/Getty Images
Photo by Carl Recine/Getty Images
“So unless they adjust their approach a little, finding a significant chunk of cash for the upfront portion of a £100m fee for a striker is going to be difficult without significant player trading.
“Traditionally, Liverpool have been absolutely brilliant at this – cashing in on saleable assets at the right time and taking a dispassionate approach to player trading.
“FSG have never put money into the playing side of the club. They’ve invested in the stadium through interest-free loans, but that’s it.
“I could be wrong, of course, but I doubt they would change tack now. So I think player sales would be the way they raise the cash, personally.”
Several Liverpool players face uncertain futures under Arne Slot
In terms of players who Liverpool might sell this summer, irrespective of their pursuit for a new striker, there are several members of Slot’s squad with uncertain futures.
Liverpool are worried about Ibrahima Konate’s contract situation for example — a defender the club would definitely like to keep.
However, Liverpool’s sporting director Hughes might be more receptive to Brentford’s interest in Caoimhin Kelleher for example.
And there are also the likes of Jarell Quansah, Harvey Elliott, Joe Gomez and even Luis Diaz who have been linked with moves away.
Clearly it is possible for Liverpool to raise funds, but given Hughes’ quick moves for the likes of Wirtz, Frimpong and Kerkez, he might be reluctant for the club’s striker search to stretch long into the summer.