How Liverpool Can Afford Their £283m Summer Spending Spree – Analysis

How Liverpool Can Afford Florian Wirtz and Hugo Ekitike in 2025

Liverpool have entered the 2025 summer transfer window with a statement of intent. The club have spent close to £300million already, bolstered by the high-profile arrivals of Florian Wirtz and Hugo Ekitike, as well as Jeremie Frimpong, Milos Kerkez, and Giorgi Mamardashvili. All signs point towards an aggressive strategy aimed at cementing Arne Slot’s legacy after winning the Premier League in his first season at the helm.

But while rival fans may ask how this level of spending is even possible under Profit and Sustainability Rules (PSR), the answer lies in Liverpool’s remarkable commercial and financial trajectory.

Record Revenues Fuel Transfer Ambitions

The Athletic reports that Liverpool’s 2023-24 turnover exceeded £600m, a season which only included Europa League football. With the return of Champions League action and a title win last season, 2024-25 revenues are expected to have hit over £700m — a feat previously only managed by Manchester City.

That financial leap is being leveraged smartly. As The Athletic note, “Liverpool earned £181.5m through winning the Premier League,” and will benefit from an uplift in Premier League broadcast income, with the new rights cycle set to bring in £12.25bn league-wide over the next three seasons.

Photo: IMAGO

Add to that the new Adidas kit deal, replacing the lucrative Nike partnership, and commercial income is only trending upward. While performance incentives are built into the Adidas deal, the agreement could surpass Nike’s average of £60m per season.

Wage Control and Sustainability at the Core

While it’s tempting to assume Liverpool have abandoned financial caution, that’s far from reality. “Liverpool lost £57.1million pre-tax in 2023-24,” The Athletic revealed, but this was described as an anomaly rather than the norm.

Liverpool’s wage bill is high — trailing only Manchester City — but still sustainable. Wirtz will earn around £200,000 per week, while Ekitike’s salary is estimated in the £200,000 to £220,000 bracket. Collectively, the pair add around £25m annually to the wage bill, which still remains within a healthy 62 to 65 per cent wages-to-revenue ratio.

The departure of Trent Alexander-Arnold has helped ease the financial burden. His £12m annual cost has now been offset, partially funding the wages of the incoming stars.

Why This Summer Is Exceptional, Not Reckless

Liverpool’s net spend has often lagged behind their domestic rivals. Their £749.4m squad cost at the end of 2023-24 placed them seventh globally, behind the likes of Chelsea, Manchester City, and Manchester United. This window, then, serves partly as a catch-up mechanism.

Amortisation — the annualised accounting cost of transfer fees — remains well-managed. The Athletic explain that Wirtz’s £100m deal will add £21.4m to the 2025-26 books, with £22.7m per year over the following four seasons. Ekitike’s impact is similar, adding roughly £15.7m annually.

X: @LFC

In total, Liverpool have added around £54m in amortisation costs for their five new arrivals — still trailing behind other top six clubs like Chelsea and Manchester United.

No Red Flags With PSR or Cash Flow

Liverpool are not under pressure from PSR guidelines. The club could have absorbed a £75m loss last season without breaching Premier League rules. “Even with all four new signings, Liverpool’s additional annual costs are in the £90m to £100m range,” according to The Athletic, but booming revenues easily cover that.

On the cash side, the situation is even stronger. Liverpool refinanced a £350m revolving credit facility and had only used £116m of it by May 2024. Operating cash flow was a healthy £83.7m last year, and capital expenditure has eased with Anfield’s redevelopment now complete.

Another strength is Liverpool’s minimal debt in terms of outstanding transfer fees. The club owed just £69.9m at the end of May 2024, a figure “lower than seven other Premier League clubs at the time,” per The Athletic.

Our View – Anfield Index Analysis

Let’s not beat around the bush — this is dreamland for Liverpool supporters.

After years of prudent spending, Liverpool have opened the vault and backed their new manager to the hilt. Arne Slot didn’t just win the Premier League, he did so playing electric football with a squad still built in the Klopp era. Now, he’s being trusted to shape the next generation, and Wirtz and Ekitike are clear statements of intent.

Wirtz, at 22, is already a generational talent. His technical brilliance, tactical IQ and creative instinct are exactly what Liverpool needed in midfield after years of Gini Wijnaldum-esque balance players. At £100m, it’s steep, but this is a player whose ceiling is frightening. If Jude Bellingham is the standard, Wirtz isn’t far behind.

Ekitike’s arrival is a clever bet. While not yet elite, his physical attributes and versatility are Slot-friendly. He’s raw, yes, but with Darwin Nunez likely to depart, the Frenchman offers an exciting new option across the front three.

Let’s not overlook Frimpong and Kerkez either — both young, aggressive full-backs perfect for Slot’s up-tempo system. Add Mamardashvili and you’ve got one of the most exciting Liverpool transfer windows in modern history.

And yet, it’s done with sustainability in mind. That’s the FSG model when it works best — reward success, but protect the future. We may see one or two exits, but the core of this squad is now Slot’s to mould, and that’s a thrilling thought.

The Reds are building something serious again, and this time they’re doing it from a position of strength.