How can Liverpool afford to pursue Alexander Isak after already spending over £170m this summer?

Liverpool’s summer spending spree may not be over just yet, with the club reportedly showing serious interest in Newcastle United striker Alexander Isak—despite already investing over £170m in the transfer window.

A move for the Swedish forward, expected to cost up to £130m, would push Liverpool’s total outlay this summer to an eye-watering £300m, nearly tripling last year’s expenditure. In comparison, the Reds spent just £35m last summer, securing Italy winger Federico Chiesa and Georgian goalkeeper Giorgi Mamardashvili.

Sources close to the club indicate that Liverpool have recently intensified their pursuit of Isak, following earlier assessments of alternative centre-forward options.

The Merseyside club have already splashed out £116m on German midfielder Florian Wirtz, a potential British transfer record, along with £40m for Milos Kerkez and £30m for fellow full-back Jeremie Frimpong.

Financial Flexibility Backed by Revenue Surge

Liverpool’s aggressive recruitment is underpinned by a significant boost in revenues. The club earned around £175m from their Premier League title win, enjoyed a full season of increased matchday income from the expanded Anfield Road stand, and are set to begin a new kit deal with Adidas in August reportedly worth £60m annually, surpassing their current agreement with Nike.

Football finance expert Kieran Maguire explains that Liverpool’s relatively modest spending in previous seasons has positioned them well within the Premier League’s Profit and Sustainability Rules (PSR), which limit losses to £105m over a rolling three-year period.

“Liverpool are an exceptionally well-run club,” Maguire told BBC Sport. “They’ve had the lowest net spend among the traditional top six over the last three years, just £325m including Wirtz. That gives them significant room to manoeuvre, especially with deals typically structured in instalments.”

A Calculated, Analytical Approach

Transfermarkt data shows Liverpool’s net spends for the past three seasons stand at -£4m, £96m, and £53m, figures that pale in comparison to the likes of Manchester United, who recorded £119m, £133m, and £190m in the same period.

“Liverpool haven’t been among the top-10 spenders globally since 2019,” Maguire added. “But their recruitment model is data-driven and deliberately selective, more ‘Moneyball’ than market frenzy. Michael Edwards, now back as CEO of football operations, stays laser-focused on value and squad fit rather than bowing to external pressures.”

He believes the signings of Wirtz, Kerkez, Frimpong, and possibly Isak all align with Liverpool’s philosophy of targeted investment that enhances the team’s quality.

Competition for Isak Likely to Be Limited

Newcastle remain adamant that their key players, including Isak, are not on the market. The 24-year-old still has three years left on his contract, meaning any potential move would likely require a transfer request or clear intent from the player himself.

While other top clubs have been linked with Isak, few appear financially positioned to match Liverpool’s potential offer. Arsenal, who boast a strong financial footing, are reportedly closing in on Sporting’s Viktor Gyökeres for around £63.5m instead. Manchester City are unlikely to enter the striker market, while United may need to offload players first due to their failure to qualify for the Champions League.

Chelsea, meanwhile, have already brought in forwards Liam Delap and Joao Pedro. Tottenham, according to Maguire, could theoretically afford Isak but may not appeal to the striker given the club’s recent struggles.

“Moving from a side that finished fifth to one that came 17th is a hard sell,” he said.

With solid financial backing and strategic recruitment, Liverpool could yet make another marquee addition before the window closes, and Isak may well be the final piece of their summer overhaul.