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Liverpool are certainly not resting on their laurels after winning the Premier League title, having broken the British transfer record twice this summer.
However, such spending brings immense expectations, and if these aren't met this season, then Liverpool's manager Arne Slot will be deemed a failure, according to Manchester United legend Rio Ferdinand.
Fresh from securing their 20th top-flight title in May, Liverpool swiftly embarked on one of the most extraordinary transfer windows in Premier League history. Alexander Isak may have joined Liverpool on deadline day for a staggering $176M from Newcastle, but preceding him was the much-anticipated arrival of Florian Wirtz from Bayer Leverkusen in a deal worth $136M.
Add the $105M acquisition of Hugo Ekitike, the $53.6M spent on Milos Kerkez, the $39.5M forked out on Jeremie Frimpong and $34.8M on Giovanni Leoni, and Liverpool's summer expenditure totals an astonishing $598M, including add-ons.
This is without considering the $47M move for Crystal Palace captain Marc Guehi, which fell through in the final hours of the window. The total still set a Premier League record, as Liverpool's off-season spending even surpassed the $583M Chelsea splashed out in the summer of 2023, as per the Liverpool Echo.
Ferdinand, whilst thoroughly impressed with the Reds' business, has warned Slot that the title and a cup represents the minimum expectation this year. "Liverpool have one of the best transfer windows we've, arguably, seen in the Premier League era," the former England centre-back said on his show, Rio Presents.
"They've gone and got the best striker, or the second best striker after [Erling] Haaland, in the Premier League. They've got the best left-back last year in the Premier League in Kerkez, they've got the best right-back, or one of, in the German Bundesliga in Frimpong. They've got Wirtz, the best German player in the Bundesliga, that is a ridiculous window," he added.
"The best in positions in their respective leagues have come into their team to improve the champions. If they don't win the league and a cup this season it's a failure, trust me."
Ferdinand concluded: "The amount of money they've spent, over £400M ($536M) they've spent. Yes, they've recouped some money so I think it's around the £200M ($268M) their actual net spend but they've done some wonderful business. I think Liverpool have done a magnificent job."
Whilst Liverpool's lavish expenditure on paper is sufficient to send chills down the spines of their title competitors, the truth is that, courtesy of a string of player departures, Arsenal has actually recorded a larger net spend this summer than the Reds.
Liverpool has witnessed the departures of Darwin Nunez, Luis Diaz, Caoimhin Kelleher, Ben Doak, Jarell Quansah, and Tyler Morton for substantial fees, while Kostas Tsimikas has been loaned out to AS Roma. Harvey Elliott will be spending this season at Aston Villa with an obligation to buy for $47M next summer.
The club even managed to secure $13.4M from Real Madrid for Trent Alexander-Arnold, allowing Los Blancos to hasten his departure from Anfield, and raked in $4M for long-serving player Nat Phillips.
Ferdinand was correct in highlighting net spend as a crucial factor, later discussing Arsenal's position as the top spenders this summer. Mikel Arteta's team has shelled out a net $345M this summer, while Liverpool trails with $293M.
In fact, since his appointment as manager in December 2019, Arteta has a net expenditure of $1.1 billion. During that period, under two managers, Liverpool has only spent $609M but have clinched two Premier League titles, the FIFA Club World Cup, the FA Cup and two League Cups, not to mention making it to the Champions League final in 2022.
Adding to that, Arteta has only won a single FA Cup with the Gunners, in 2020, and is currently enjoying a streak of three consecutive second-place finishes in the Premier League. Ferdinand's warning of failure could be up for debate.
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