Have Liverpool Wasted Their Summer?

Liverpool have only welcomed a single new face at Anfield this summer, in the form of Federico Chiesa, Juventus’ former winger. He is one of two transfers completed by the Reds during the recent window, with the other being Valencia goalkeeper Giorgi Mamardashvili, who was loaned straight back to the Spanish club for the current season.

The first three Premier League matchdays have brought three victories for Liverpool, but they went on to lose to Nottingham Forest this past weekend in a limp performance. This game was the first in a series of seven outings in only 22 days, which will be a brutal introduction for Arne Slot to the rigours of English football.

So was Liverpool’s summer transfer activity too little for a successful 2024/25? Or is this just a minor blip? Let’s have a look at the reasons why Slot’s team have been so shy on the market.

Liverpool’s Recruitment Strategy

Liverpool’s approach was unusual, especially after a managerial change. Having not signed any players until the last week of the window, the last time the club went this long without new signings was in 2019, after their Champions League win.

Despite no new additions until late July that year, they still went on to win the Premier League the following season, highlighting that “winning the transfer window” doesn’t always translate to on-field success.

Reasons for the Delay

Slot prioritised assessing the current squad before making new signings. New sporting director Richard Hughes also mentioned the impact of the recent European Championship and Copa America on transfer timings, predicting a busier August. This did not exactly come to pass, given that only two deals were struck before the window slammed shut.

Liverpool also didn’t exactly face significant gaps needing immediate attention. Injuries to Joel Matip and Thiago last season saw them already replaced internally by players like Jarell Quansah and Vitezslav Jaros.

The focus this past summer could have been on securing an elite holding midfielder, another centre-back, and a wide attacker, though Slot is keen on developing academy talent. The signing of Mamardashvili was made with the future in mind, since Alisson is still arguably the world’s best goalie, while Chiesa is rather a Salah back-up for the right wing.

Comparisons with Rivals

Liverpool’s rivals have been active in the market. Manchester City, Arsenal, Aston Villa, Manchester United, Tottenham, and Chelsea have all made notable signings. However, quick integration of these new players remains uncertain, especially since injuries can always slow that process down, as it will likely be the case with United’s Leny Yoro.

Financial Position and Sustainability

Liverpool is financially stable under the Premier League’s profit and sustainability rules (PSR). Despite no Champions League football last season, the club’s commercial revenue rose significantly, ensuring compliance with PSR, mainly thanks to the full opening of the newly renovated Anfield Road stand.

The club’s wage bill to income ratio is also healthy, and recent high-earning player departures have reduced expenses significantly.

FSG’s Market Approach

FSG aims to run Liverpool sustainably, avoiding risky expenditures. Last season’s dip was due to injuries and player rhythm issues, not squad quality. Slot and Hughes are cautious but optimistic about the squad’s potential, relying on internal talent development.

Besides, strides have been made in offloading fringe players such as Fabio Carvalho and Sepp van den Berg (both to Brentford) for significant amounts, especially considering that they were not exactly viewed as first team quality players at Anfield. Other youngsters were sent out on loans, with Stefan Bajcetic reuniting with Klopp’s former assistant manager Pep Lijnders, now head coach at RB Salzburg, while Ben Doak went down a division, joining Middlesbrough in a bid to gain more experience.

Conclusion

While it is true that Liverpool might have left themselves open to disappointment this season, it seems like some foundations are being laid for a more significant transfer window next summer. The Reds’ hierarchy has always prioritised sustainability in the way the club is run and the past summer reflects that once again.

However, it must be said that most Liverpool fans would have liked to see more fresh faces join the club this season. There is a feeling that a new defensive midfielder would have been a welcome addition, especially since Slot has only given Wataru Endo a single minute to play this season.

The fans will be hoping that their shock defeat against Forest will not be snowballing into a crisis. If it does, everyone will most likely be pointing fingers at their passive approach to the summer transfer window.

Time will tell.