Alexander Isak transfer reality clear as £340m truth gives Liverpool edge over rivals

Alexander Isak transfer reality clear as £340m truth gives Liverpool edge over rivals

Liverpool have been the Premier League leading spenders in this summer's transfer window - but they still lag behind their rivals in recent years

Liverpool attacking midfielder Florian Wirtz and Newcastle United striker Alexander Isak

It was back in 2021 when the chant was first aired. And it was given more than a few more renditions as Liverpool romped to a record-equalling 20th championship last season.

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"The Reds have got no money, but we'll still win the league," came the cry from the Reds support, acknowledging what has long been regarded by some as the over-frugality of club owners Fenway Sports Group.

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Of course, Liverpool are by no means paupers and have consistently ranked in the top 10 of the Deloitte Football Money League, the accepted barometer of a club's financial standing in terms of revenue.

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What Luis Diaz sale means for Alexander Isak transfer as Liverpool change stance READ MORE:

But when it comes to splashing the cash in the transfer market, Liverpool haven't quite been on a par with many of their nearest rivals, not least last summer when only £10m was spent to immediately bolster the squad with the arrival of Federico Chiesa, although a further £29m was committed to bringing in Giorgi Mamardashvili this season.

That, though, has very much changed during this transfer window, with many eyebrows being raised at the uncharacteristically mammoth outlay that has seen Liverpool bring in seven players - including club record £116m arrival Florian Wirtz - and being prepared to break the British transfer record for Alexander Isak of Newcastle United while still seeking a new centre-back.

It's not inconceivable the Reds end up splashing out almost £450m this summer, underlining why it is important to recruit from a position of strength rather than rest on laurels. Progressive evolution should never stop.

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For historic comparisons, there are shades of the summer of 2018 that helped Liverpool to become European Champions, the seven new arrivals in 1999 that forged the foundation of the cup treble-winning team two years later, or the attacking overhaul in 1987 that prompted one of their best sides ever. The Reds will hope for a similar return this time around.

The careful financial approach of FSG over the years, the ability to gain top dollar from the sale of players and the income ultimately generated by subsequent triumphs on the pitch have ensured Liverpool have no issues at present regards the Premier League's Profit and Sustainability Rules.

And there is a sense the Reds are merely playing catch-up on those around them.

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Now, assessing transfer spends is often a fraught task. Clubs aren't always keen to release information on fees, and often they don't quite tell the full story, particularly when it comes to signing-on bonuses and other hidden outlays.

There are many, for example, who question Manchester City's purchase of Erling Haaland costing them the claimed £51m, with some reports suggesting the overall spend could end up being in excess of £85m.

So in terms of fairness, the following numbers have been crunched using the reliable and respected transfermarkt website as a guide. And the results of transfer spend over the last five years - starting with the summer 2021 window - are enlightening.

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Nobody will be surprised to see Chelsea topping the list in terms of net spend given their outlay in excess of £1.5bn. Even allowing for the fact they have made around £750m from player sales, it still leaves their overall spend at a whopping £754m.

Manchester United are up next with almost £1bn in signings, leading to a net spend of £660m. Then come Arsenal - often portrayed as lacking financial clout - with £800m of signings and an overall transfer balance of £613m spent.

Fourth are Tottenham Hotspur whose £758m in arrivals has led to a net spend of £530m. And next are Liverpool, with more than £650m of signings prompting a net spend of around £410m - some £340m less than Chelsea.

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Where are Manchester City, you may ask? Well, despite their spend on players being the third highest at almost £820m, their significant number of sales means they rank seventh in the net spend rankings on £325m.

It's worth bearing in mind much of City's transfer income has come from the sale of players from their academy, a part of the club in which over a long period they have been able to inject huge sums compared to their Premier League rivals thanks to the backing of their Abu Dhabi owners.

Newcastle are sixth in the overall list with a net spend of £358m. Intriguingly, when it comes to expenditure alone, they are behind both West Ham United and Brighton in ninth place. Aston Villa complete that top 10 in which Liverpool stand sixth.

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Not that this is the end of the story. With five weeks remaining in the transfer window - these statistics are correct as of Monday lunchtime - for many clubs the bulk of their business is still to come the nearer the looming September 1 deadline.

Should, as is expected, Luis Diaz's transfer to Bayern Munich be completed, Liverpool can expect to move into sixth place in terms of money brought in from transfers over the last five years. Chelsea lead that list, following by Brighton, City, Wolves and Aston Villa.

The only team to have made a profit from transfers over the period and stayed in the Premier League throughout? Everton.

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Liverpool thus far head the top-flight regards transfer expenditure this summer and evidently are not done yet. But the numbers highlight their ability to spend smart rather than big is what continues to set them apart from their rivals - and explains why a certain Sweden international striker could end up at Anfield in the coming weeks.

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