While Liverpool have spent big in the transfer market in recent times, many of their best signings have cost the club 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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There has been plenty of scrutiny on Liverpool's transfer business following a deeply underwhelming title defence. The Reds spent almost £450million on revamping a squad that won the Premier League with relative ease last year.
Alexander Isak (£125m), Florian Wirtz (£116.5m) and Hugo Ekitike (£79m) arrived, among others, but few have justified their prize tags during a trying season for Arne Slot.
The Reds have had the chequebook out again recently, agreeing to pay an initial £55m for Rennes defender Jeremy Jacquet, who will remain with the Ligue 1 club for the rest of the season before moving to Anfield in the summer.
James Milner
Arguably the most successful free agent signing in Liverpool's history, James Milner had already clocked up a 13-year Premier League career before his switch to Merseyside in 2015 from Manchester City.
Despite receiving a fresh contract offer from City, the England international was determined to feature in central midfield rather than continue out wide, which had predominantly been his position at the club.
After a conversation with Brendan Rodgers, who promised him the opportunity to play in his preferred role, Milner seized the chance and was swiftly appointed vice-captain under Jordan Henderson, who took over the armband following Steven Gerrard's summer departure to LA Galaxy.
Milner became an integral figure during Liverpool's most successful era since the 1980s, claiming every major honour at the club except the Europa League across an eight-year stay at Anfield.
Amongst his tally of 26 goals and 45 assists for Liverpool, he set the record for most assists in a single Champions League campaign during 2018/19 with 11 - a benchmark that remains unbeaten today.
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
Holding the distinction of being Jurgen Klopp's first signing, Joel Matip agreed a four-year pre-contract deal with the Reds in February 2016 as his Schalke contract wound down.
Before his arrival, Liverpool's backline had faced heavy scrutiny with Dejan Lovren, Mamadou Sakho and Martin Skrtel struggling to convince, but Matip's calm and assured presence at the heart of the defence won him praise.
Virgil van Dijk's arrival in 2018 gave Matip an elite centre-back partner as the duo formed a formidable defensive pairing. Despite his reliable displays, persistent fitness problems meant he featured in a reduced capacity during the 2019/20 and 2020/21 campaigns, managing just 25 appearances across both seasons.
Matip returned to fitness in the 2021/22 season as Van Dijk's regular partner as the Reds chased down a quadruple before having to settle for a domestic cup double. His last two seasons at Anfield were injury-hit before he was released in the summer of 2024 and then 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
Dubbed 'God' by the Kop faithful, Robbie Fowler departed Anfield in 2001 as the club's most prolific Premier League marksman with 120 top-flight goals and 171 across all competitions.
Gerard Houllier's tactical preference for a Michael Owen and Emile Heskey strike partnership left the former England striker starved of regular minutes, while a fractured relationship with the French boss prompted a £12million transfer to Leeds United.
Following an 18-month stint at Elland Road, Fowler moved to Manchester City where he remained for three-and-a-half years before making a sensational Anfield comeback in January 2006.
While Fowler wasn't technically unattached, City happily allowed him to depart without a fee to reunite with his beloved club. Though he managed just 39 appearances and netted 12 goals during his second spell, taking his overall Liverpool tally to 183, a fresh generation of supporters got the chance to see Fowler wear the famous red shirt once more.
Robbie Fowler.
Fowler topped up his Liverpool goals tally after returing to the club(Image: Laurence Griffiths /Allsport)
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Markus Babbel
The ex-Germany star joined Liverpool in 2000 as a decorated champion. Among his 11 medals before arriving at Anfield was a Euro 96 one.
Babbel was so determined to sign for the club that he's said to have turned down Real Madrid, having already given his word to Houllier. He was a fixture in his maiden season, featuring in 60 matches and starting every Premier League and UEFA Cup game.
The defender claimed three trophies in his first campaign, securing the FA Cup, League Cup and UEFA Cup to add to his impressive collection. His winning streak continued with the Community Shield and UEFA Super Cup the following season before things took a dramatic turn for the worse.
Babbel was struck down by Guillain-Barré syndrome and managed only six appearances in his second season. GBS is an uncommon nervous system condition that can lead to paralysis and, in severe instances, prove fatal.
He lost the ability to lift his legs and was confined to a wheelchair, being sidelined for nearly a full year. Though he successfully returned to action in August 2002, Babbel was never quite the same player following his battle with GBS, making just seven more appearances for Liverpool before departing for Stuttgart in 2004.
Markus Babbel playing for Liverpool
Markus Babbel's Liverpool career was cruelly cut short(Image: Getty)
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Gary McAllister
Gary McAllister arrived at Liverpool in 2000 on a free transfer from Coventry at the age of 35 but he made an indelible mark on the Anfield faithful during a two-year spell.
The midfielder proved to be a crucial player for Houllier, who hailed the Scotsman as his "most inspirational signing". McAllister featured in 49 matches as Liverpool secured a treble of silverware, while delivering a string of memorable goals, including his stunning 44-yard free-kick winner against Everton deep into stoppage time.
He also converted a decisive penalty against Barcelona in the UEFA Cup semi-final and contributed one goal plus 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
While the Spanish goalkeeper managed only 26 appearances across five years at the club, few players can claim to have helped deliver silverware in just their second appearance.
Adrian's second outing for Liverpool came in the 2019 UEFA Super Cup final against Chelsea, a match that went to extra time and penalties after the sides were locked 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 stopper became the hero of the night when he denied Tammy Abraham from the spot, securing Liverpool's fourth Super Cup triumph.
His outstanding display and crucial penalty save prompted Klopp's iconic roar of "Adrian" - reminiscent of Rocky Balboa calling out to his wife, who coincidentally shares the same name as the goalkeeper. Despite featuring in only two matches during his final three campaigns at Anfield, Adrian remained popular among fans and teammates.
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