Arne Slot made a promise and a statement.
In the final press conferences of Liverpool’s historic season where they became champions of England for a 20th time, the Dutchman told fans to expect a ‘big summer’ and then said the Reds will not stand still but look to find some ‘new weapons’.
Two months, seven signings and £295million later, Slot has not just welcomed a couple of weapons – but a whole new regiment armed with heavy artillery ready to shoot down all that stands in their line of sight. And they may not be done yet.
This is the story of how Liverpool are preparing to turn 20 into 21 at the first time of asking – and how they are bullying their rivals into submission.
Alexander Isak is the next target for a club not content with what they have achieved in recent months, and whether Newcastle’s Sweden striker arrives on Merseyside or not, the fact Liverpool have even considered a move shows what their philosophy is.
It goes back to that old saying: fix the roof while the sun is shining, do not wait for a rainy day. Slot’s men are already the cream of the crop in the Premier League – and they are only getting better. Paris Saint-Germain, champions of Europe, beware… Liverpool want your crown.
Arne Slot set a target for his club to find ‘new weapons’ – and Liverpool have delivered
The champions have already broken the British transfer record this summer for £116million signing Florian Wirtz
Full backs Jeremie Frimpong (left) and Milos Kerkez (centre) have also bolstered the starting lineup
‘I don’t think there’s a better place to be than Liverpool,’ captain Virgil van Dijk said this week. ‘I really feel that way. We had a fantastic season and I feel like this can only become better. When Florian Wirtz spoke to the club and certain players, I spoke to him as well a little bit, I’m sure he got a feel for it.’
The headline buys have been the statement signings of Wirtz for £116m and £79m on exciting young forward Hugo Ekitike, who rated higher than all but Erling Haaland and Kylian Mbappe on the club’s internal data tests.
Then there has been upgrading the full back department with Milos Kerkez, 21, and Jeremie Frimpong, 24. Watching them train in the air-conditioned Kai Tak Stadium this week was to witness two players brimming with pace, power and technique.
But given it would be from a direct Premier League rival and noting his reputation among fans of the English game, signing Isak would top the lot. Even if Newcastle were to slightly budge on their £150m valuation, it would take Liverpool’s spending above £400m for the summer.
And the only question on everyone’s lips is – how on earth can any club afford that?
Well, for starters, Liverpool have been frugal in the three transfer windows before this one. After a big outlay in summer 2023 with four new midfielders – Alexis Mac Allister, Dominik Szoboszlai, Ryan Gravenberch and Wataru Endo – they have barely lifted a finger with only £10m Federico Chiesa coming in last summer.
‘Last year we only signed one player and everyone moaned, “Oh, why haven’t we signed anyone?” but then we won the league,’ the club’s all-time record goalscorer Ian Rush told Mail Sport yesterday. ‘I always used to say that the easiest thing is to win the league, the hardest thing is to retain it.
‘Every time we won the league, we’d buy at least two or three players to keep everyone on their toes. Now we obviously need that. You have to give credit to Fenway Sports Group (the owners), they have given them the backing with money.’
Liverpool can afford Alexander Isak – and more besides – due to their frugal spending in the last three transfer windows
Federico Chiesa is the only player Liverpool signed between September 2023 and June 2025
Clubs are allowed to lose £105m over a rolling three-year period to comply with profit and sustainability rules and, to put it simply, Liverpool can afford to spend more because they make more.
They banked £174.9m for winning the Premier League in prize money and at least £83.8m for their run to the last 16 in the new-look Champions League, with extra matchday revenue coming with it thanks to having five home games in the competition.
Those figures will be higher due to extras and commercial agreements – they are very popular with sponsors, shown by the amount of link-ups they have been doing on the tour. Some of that money will be offset by paying out bonuses in player contracts for winning the league.
Next week they will unveil three new adidas kits and that kit deal, starting August 1, will bank the club at least £60m a year. Mail Sport has been told that figure is extremely conservative and it will end up being a lot more. New signings like Wirtz and Co will model the new shirts and that jersey will certainly sell well.
Doing the calculations on PSR based on the latest accounts and estimates of revenues for this year, the club can afford to spend another £200m and still be compliant with the Premier League’s rules. Even Isak would surely not command that high a fee.
Player sales will of course happen, too, and Liverpool still could raise another £100m-plus from departures, having already brought in £66m from selling Trent Alexander-Arnold, Caoimhin Kelleher, Jarell Quansah and Nat Phillips.
Bayern Munich are ready to return to the table for Luis Diaz. Liverpool insist the Colombian is not for sale but a huge bid could test that position. Darwin Nunez is another that could leave despite him impressing in pre-season and the Reds want £70m for him, while £40m-rated Harvey Elliott has suitors. Youngsters Tyler Morton and Ben Doak could also be sold.
That is the ‘how’ Liverpool can spend so much, what about the ‘why’? Well, as CEO Billy Hogan said this week: ‘We recognise, having won the English league title for the 20th time, that this is one of the biggest clubs in the world. We want to make sure that we are behaving like one.’
Bayern Munich are back in for Luis Diaz, who had been labelled as untouchable by Liverpool previously
Liverpool chief executive Billy Hogan (left) is pushing the club onwards to retain their title
Liverpool’s last title defence was a damp squib, rapidly curtailed by injuries to key players such as Van Dijk – and most of the rest of the defence – and ending 17 points behind Manchester City, who then went on to win four titles in a row.
The summer transfer window after Liverpool had won their first title in 30 years was followed by spending £74m, less than Ekitike’s total cost. Of the five players who came in, only Diogo Jota had a major impact – though Thiago Alcantara and Kostas Tsimikas played their parts too.
Now, they are absolutely behaving like a big club and bullying their rivals. City tried and failed to sign Wirtz. It is understood Manchester United recruitment guru Christopher Vivell contacted Eintracht Frankfurt over Ekitike but was told he had his heart set on Liverpool. Newcastle, likewise, were ready to pay £70m for the France Under 21s star but he rejected them.
Rivals are worried that the 10-point gap Liverpool opened up at the top of the Premier League last season is only about to get bigger.
