Arne Slot explains Liverpool transfer 'reality' and 'frustration' at 'what people don't notice'

Arne Slot has spoken about Liverpool's transfer spending ahead of Monday's deadline, with one thing seeminlg irking him above all else when it comes to those conversations

Liverpool head coach Arne Slot.(Image: Justin Setterfield/Getty Images)

To the casual observer, the summer of 2025 represented a dramatic transformation in Liverpool's philosophy. It commenced in June with the acquisition of Florian Wirtz, who arrived for a club-record $157 million (£116 million) from Bayer Leverkusen.

This deal, even at its basic $136 million (£100 million) level, still exceeded by an extra third what was spent on Virgil van Dijk in January 2018, who remained at that point the most costly signing in Merseyside history.

The $116 million (£85 million) deal agreed for Darwin Nunez in the summer of 2022 was never fully paid due to add-ons that went untriggered before the Uruguayan departed for Saudi Arabia last year.

Following Wirtz, who arrived several weeks after his close mate Jeremie Frimpong's $40 million (£29 million) move, came Milos Kerkez for $54 million (£40 million) and Hugo Ekitike, who finalized his $108 million (£79 million) transfer from Eintracht Frankfurt in July before immediately jetting off to join his new team-mates in Hong Kong.

Giorgi Mamardashvili, who had agreed to join the previous summer, officially completed his $40 million (£29 million) move from Valencia earlier in the window before Giovanni Leoni's $35 million (£26 million) transfer from Parma was announced on the evening the Reds kicked off their title defense at home to Bournemouth on August 15.

Finally, but certainly not least, came the staggering, British-record signing of Alexander Isak, who brought an end to a bitter summer with Newcastle United by departing on transfer deadline day for $170 million (£125 million).

Liverpool head coach Arne Slot after his side beat Qarabag in the Champions League.(Image: Simon Stacpoole/Offside via Getty Images)

It capped off an extraordinary recruitment drive for the champions, whose summer-long efforts saw them spend over $600 million (£450 million), including add-ons. Liverpool, however, has consistently challenged the perceived shift in approach and the club continues, as directed by owners Fenway Sports Group, to operate under a rigorous policy of self-sustainability.

The substantial outlay in the transfer window was partly due to record revenue levels and the fact that the previous summer generated a profit, with only Federico Chiesa signed for $13 million (£10 million).

That $600M figure, which has been frequently cited in critiques of performances and results, fails to acknowledge the considerable turnover in playing personnel, and Arne Slot acknowledges this is something that quietly frustrates him regarding discussions of his team's fortunes.

"It's a model of sustainability," Slot said. "That's why everyone talks about £450M but that's why we had to recoup £300M. So that's our model and I am not frustrated about that. Maybe I am little bit frustrated that too many people don't notice what our model is.

Arne Slot emerges for a Liverpool training session.(Image: Nikki Dyer - Liverpool FC via Getty Images)

"They are talking about £450M but it's £300M recoup. I am totally not frustrated as that's the model I stepped in to and I even embrace it. It's a good model to have for any club.

"I am frustrated that sometimes people don't notice it but we were able to achieve a lot of good things since this ownership is here with this model of sustainability.

"That's the signings we have made. We have only made signings this season that are of that level. So, yes, I think there is much more to come. That is where we are and what we are. Future signings will always be or should be of a sustainable level."

Liverpool has generated over $410 million (£300 million) in player sales since Slot arrived alongside sporting director Richard Hughes in the summer of 2024.

But even when accounting for net expenditure, the Reds' summer represented, by some margin, the most substantial in their history, and with certain gaps in their squad still evident, it appears another significant period of player trading is approaching for Slot, Hughes and the club's owners, FSG.

"In terms of sustainability, what I mean is you don't spend more than you have," Slot continued. "And if you have that model, it's smart to bring in young players who you can develop and use for years.

"If you have a different model, you can just spend whatever you want and do whatever you want. If the money just comes, then you can look at a different profile from what we are looking at.

"That's why this club has always taken the profiles we are taking. And that is sustainability but the main thing I mean about sustainability is that we spend what we have.

"We won the league last season, so we probably made a bit of profit. So we sold for £300M and bought £450M. But £250M we haven't used yet. Alexander Isak and Jeremie Frimpong only a little bit and Giovanni Leoni not at all. That is the reality."