Liverpool journalist James Pearce has shared some insight into the Merseyside club’s current financial situation.
This comes after Pearce recently made an appearance on The Athletic’s Red Agenda Podcast where he spoke about a range of topics concerning Jurgen Klopp’s side.
On the subject of Liverpool’s financial situation at this moment in time, Pearce shared a bit of information on the matter.
He said: “I think people don’t like to hear it, do they, but Liverpool have been massively affected by [the pandemic] and I know that the inevitable follow-up to that question is well, why only Liverpool, why not these other big clubs? Well, it’s a different kind of business model.
“From when FSG bought Liverpool, they were very clear that the club had to be self-sustaining and had to live within its means and for a huge amount of that time of what’s coming up to 10 years as owners of Liverpool, those revenues have grown and grown and that has enabled the spending.”
So far this summer, Liverpool have spent £11.7 million on bringing Greek left-back Kostas Tsimikas to the club after they managed to sell Dejan Lovren to Zenit St. Petersburg for a fee of £10.8 million (per Transfermarkt).
Liverpool also sold central-midfielder Ovie Ejaria to Reading for a fee of £3.51 million this summer.
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TIF Thoughts…
Given how Liverpool have only signed one player during this current summer transfer window for just £11.7 million, this shows that they are being cautious with their finances during this period whereas other Premier League teams such as Chelsea, Manchester City and Manchester United have all been splashing the cash on new players.
With Liverpool having won the Premier League last season, their board members could potentially use that as an angle to say that they don’t necessarily need to spend money on players like other clubs have this summer.
However, this could just cloud the fact that the pandemic has impacted the club financially so they may not be able to buy the players they may want, for example, the Reds missed out on signing Timo Werner before Chelsea did as the reported deal was not financially viable for the club.