Liverpool’s pursuit of Florian Wirtz looks set to end in a British record transfer fee.
Few saw that coming when the German international was first linked with a move to Anfield given the Reds’ typically frugal approach to the transfer market. Yet this summer appears to mark a change in Liverpool’s transfer policy; an alteration that has been a year in the making.
Few head coaches and sporting directors work together as efficiently as Liverpool’s chief strategists, a fact perhaps most underlined by last summer’s decision to essentially stick with the squad left by Jurgen Klopp. Arne Slot and Richard Hughes agreed that waiting and assessing the group was in their best interest, a bold move for men at a time of transition and uncertainty.
Of course, it ultimately proved to be an inspired decision, one that resulted in the Premier League title returning to Anfield. It also means the Reds head into this summer’s market in a stronger position than anyone else.
The decision to sign Wirtz highlights that. Even Manchester City felt it was a transfer that it couldn’t afford - or fit into its PSR calculations. But after just one incoming in the past three windows (Federico Chiesa), Liverpool is now in a position to flex its muscles.
As finance expert Kieran Maguire highlights, the Reds were the lowest transfer spenders in the 2024/25 season, ranked 13th in the past three years for net spend, and have been outspent by West Ham United, Newcastle United, and Aston Villa over a five-year period.
With the club also securing a lucrative deal with Adidas as its new kit manufacturer, in addition to several other sponsorships, such as Japan Airlines and Visit Maldives, in the past 12 months, Liverpool’s financial picture looks incredibly robust.
That is only strengthened by the increased revenue generated from a return to the Champions League this season and a first-place Premier League finish.
MUNICH, GERMANY - JUNE 04: Florian Wirtz of Germany looks dejected during the UEFA Nations League 2025 semifinal match between Germany and Portugal at Munich Football Arena on June 04, 2025 in Munich, Germany. (Photo by Christina Pahnke - sampics/Corbis via Getty Images)
Wirtz signing has been the biggest talking point in the transfer window (Image: Getty Images)
It makes the sneering comments from rivals surrounding Liverpool’s eye-watering Wirtz approach look absurd. “The Philippe Coutinho money has stretched far” was the provocative response from some on social media to Liverpool’s lavish spending plans, an ill-informed and blinkered assessment.
It smacks of jealousy and fear. Liverpool’s Premier League rivals know that Slot and Hughes could be constructing a side capable of dominating for years to come. It’s more than Wirtz, after all. Jeremie Frimpiong is already through the door, Milos Kerkez could follow soon, and he’s unlikely to be the last high-profile summer arrival.
The window also suggests a shift away from the previous eras at Anfield, when Klopp instilled an underdog mentality that galvanized Liverpool as it tried to compete with the league’s top spenders.
He infamously referred to how some clubs, include Liverpool, not having a "ceiling" while often bemoaning his side’s inability to financially match the likes of Manchester United and Chelsea.
Pep Guardiola showed his true colours in a Jurgen Klopp Liverpool admission.
Klopp was routinely frustrated about Liverpool's spending compared to rivals. (Image: Photo by Andrew Powell/Liverpool FC via Getty Images)
“This is a difficult year for all football clubs in the world,” the German said on Liverpool’s budget, on the back of winning the title in 2020. “It’s not possible, at least not for us. We cannot do it like this. Other clubs maybe can, but this club is run in a specific way.”
Under his regime, Liverpool routinely stepped away from exorbitant transfer pursuits such as Leny Yoro, Jude Bellingham, and Arda Guler. The image portrayed was of Liverpool entering the ring with one hand tied behind its back. It needed to punch smarter; harder wasn’t an option.
Slot preaches a slightly different message, however. Repeatedly throughout the campaign, he has referenced how Liverpool is among Europe’s elite in every sense. To stretch the boxing analogy further, it’s a club very much in the heavyweight category.
“Every team spends a lot of money over here, that’s why it’s such an interesting league to be part of,” Slot said in January.
LIVERPOOL, ENGLAND - MAY 25: manager Arne Slot of Liverpool with a medal during the Premier League match between Liverpool FC and Crystal Palace FC at Anfield on May 25, 2025 in Liverpool, England. (Photo by Sebastian Frej/Getty Images)
Slot has brought a different mindset since his appointment at Liverpool (Image: Getty Images)
“Some seasons this club spends a bit more, other seasons other clubs spend a bit more. That’s what makes this league so intense and so difficult to win.
“But that’s also the reason why we want to be here: you want to compete against the best, with the best, and we are very happy with the team we have at the moment and we are still able to compete with all the teams that are spending incredible amounts of money.”
Admittedly, spending big wasn’t unheard of under Slot’s predecessor. Liverpool sanctioned an expensive midfield rejuvenation in Klopp’s final summer and was willing to fund expensive outlays on Alisson, Virgil van Dijk, and Moises Caicedo, albeit the latter eventually ended up at Chelsea.
And this summer is likely to prove the exception, rather than the norm, for Liverpool. Don’t expect another record-breaking arrival next year. But under the guise of Slot, Hughes, Michael Edwards, and FSG, Liverpool appears ready to step into a new epoch.
Wirtz’s signing is momentous in many senses, not least because the Reds held off competition from Europe’s elite. Rarely has that been the case over the last decade, but the status quo may just be shifting.