In-depth analysis! Without a large number of players sold, why can Liverpool have such a lot of financial resources?

Liverpool spent 100 million pounds to sign Wilz: How can a financially healthy giant break the label of "stingy"?

- Digging deep into the business logic and competitive ambitions behind record-breaking transfers

1. Core data of record-breaking transfers: The milestone of the Wiltz deal in the summer window of 2025, Liverpool signed 22-year-old German midfielder Florian Wilz from Leverkusen with a fixed transfer fee of 100 million pounds + 16 million pounds of floating terms, with a contract of five years. This transaction completely set a record for Liverpool's team's history of signings - the original record was 75 million pounds (actual payment amount) of Van Dijk in 2018, which also surpassed Nunes' theoretical maximum of 85 million pounds (actually only triggered some floating clauses).

Wilz's joining marks Liverpool's first entry into a "billion-pound signing club". Its total cost (including broker commissions and five-year salary) is estimated to be 170.5 million pounds. If the floating clause is fully triggered, it may exceed 200 million pounds. This operation is in sharp contrast to the club's "thrift" image in recent years, causing widespread doubts about its financial carrying capacity.

2. Revenue surge: The source of confidence in Liverpool's high-end purchases

Liverpool's "excessive spending" is by no means blind overdraw, but based on the comprehensive upgrade of the revenue structure:

The revenue of the event exceeded 600 million pounds for the first time (Europa League participation + third in the Premier League).

24/25 season: Champions League return + Premier League championship + Anfield stand expansion, revenue is expected to exceed 700 million pounds (Only Manchester City in England have reached this level).

25/26 season: New Premier League broadcast cycle starts (12.25 billion pounds in three years, an increase of 17%), with a prize of 181.5 million pounds. Even if the title is not defended, it will still benefit from the general increase in league revenue.

Quality change in commercial development

Adidas new jersey sponsorship contract will take effect in August 2025, adopting the "basic guarantee + incentive clause" model, with an annual revenue of £60 million (40% increase from the Nike period).

Anfield Stadium has expanded to 61,000 people, and has generated an average annual revenue of over US$50 million in non-event events such as concerts, becoming an important supplement to cash flow.

III. Cost control: Fenway Group's "sustainable luxury purchase" password

Liverpool's expenditure management reflects refined operational thinking, and reserves space for sky-high recruitment:

Salary structure optimization:

Wilz's weekly salary is 200,000 pounds (excluding bonuses), and an annual salary is about 12 million pounds. Arnold left the team and released equal salary space to ensure the stable proportion of core salary. Although the team's salary is close to 400 million pounds (the second highest in the Premier League), its revenue ratio is controlled below 55%, far below the UEFA 70% warning line.

Amortization cost advantage:

As of the end of the 24/25 season, Liverpool's total lineup cost was 749.4 million pounds, ranking seventh in the world, far lower than Chelsea (1.4 billion) and Manchester United (944 million). The annual amortization cost is only £114.5 million, £75 million lower than Chelsea. After joining Wilz, the amortization increased by about 21.8 million pounds year after joining, still lower than most Premier League giants.

Transfer Debt Control:

As of May 2024, the net unpaid transfer installments were only 69.9 million pounds (Manchester United reached 308.9 million in the same period). Positive to high proportion of advance transactions to reduce long-term debt pressure.

4. PSR compliance: Why doesn’t Liverpool need to “sell the bad guy”?

The Premier League Profit and Sustainability Rules (PSR) allow a cumulative loss of £105 million in three years. Liverpool's financial report in the past three years shows:

21/22 season: 7 million pounds

22/23 season: 9 million pounds

23/24 season: 57 million pounds (mainly due to the shrinking revenue of the UEFA Cup)

Cumulative PSR space: 48 million pounds surplus + 105 million pounds allowable loss = 153 million pounds buffer pool, far exceeding the new Werz transaction costs (average annual average of about 34 million pounds).

25/26 season forecast: revenue exceeds 700 million pounds + profit of 50 million pounds, and the PSR space will be further expanded to about 100 million pounds.

5. Cash flow guarantee: From credit line to operational hematopoietic financing capacity: In September 2024, Fenway increased its revolving credit line from 200 million to 350 million pounds, and as of May 2025, only 116 million was used, and 234 million pounds could be called at any time.

Endogenous cash flow: Operating cash flow in the 23/24 season + 83.7 million pounds, infrastructure expenditures have been significantly reduced with the completion of the stands.

Player sales expectations: Kelleh (18 million pounds) and Kanssa (30 million pounds) transfers create net profit; if Nunes leaves the team, he can remove the remaining amortization (average annual pounds of 10.6 million pounds), further freeing up space.

6. Strategic transformation: From "frugality and thrift" to "precise gambling"

Wilz trading marks the advancement of Fenway Group's business philosophy:

competitive demand driver:

Wilz's 16 goals and 15 assists in the 23/24 season, with a per-key pass conversion rate of 63%, which will fill the gap in Liverpool's midfield creativity (only 10.2 per game in the Premier League last season, ranking 7th).

coach Slot implemented the 4231 system, positioning it as the "absolute core of offense", which is in line with high-level compression + rapid conversion tactics.

Long-termism realization:

Ten years of infrastructure investment (200 million pounds of Anfield transformation) increase revenue potential, and commercial development and event performance form a positive cycle.

Chairman Tom Werner emphasized: "Changing the team's chemistry and introducing new faces are the key to defending the title", implying that signing is a strategic active adjustment..

Liverpool's "billion-pound high-purchase" is not a sudden crazy, but the realization of the results of ten years of financial self-discipline: revenue jumps, cost control, abundant PSR space, and stable cash flow together form the underlying support. Wilz is not only a competitive puzzle, but also a symbol of Fenway's "sustainable ambition" - when opportunities arise (top stars are available, tactical fit, and financial windows are open), the budget-oriented giants are also able to strike hard.

"Those who have a strong family have never have to be proud of themselves; those who are waiting for a good opportunity can finally determine the world.