It would have been any other summer for Fenway Sports Group had they beaten one of Europe’s richest clubs to Jude Bellingham and committed more than £200million to the Liverpool transfer.
Bellingham or not, and this is not the case for Liverpool now, the club’s owners are under increased pressure to deliver a summer like no other to prevent a season of regression leaving lasting losses.
While Jurgen Klopp, in a rare but minor nod to his employers earlier this season, expressed to FSG a desire to take more risks and act more decisively in the transfer market, April was to withdraw from the race for the long-time leading target. Perhaps he didn’t mind what.
If the Liverpool manager knew what happened last Friday, however, while warning: “What we do next year will never be enough from a human point of view, but we will improve by making smart appointments,” he is very relaxed about the situation. That left fans disappointed.
Pragmatism won out in Liverpool’s decision not to go to Bellingham, as is often the case with FSG and Klopp. This is a club that contested every game they could play last season, reached three cup finals including a third Champions League final in five seasons, took the Premier League title race to the final day, and grew their commercial revenue from £29m to £247m.
They made a £7.5m profit last season. Pre-tax and angry Twitter are asking why Liverpool, whose owners are seeking fresh investment, are not competing with the UAE and Qatar for a player who could land a deal worth at least £80m over five years.
The possibility that Borussia Dortmund could not sell their prized asset under contract with Bellingham this summer or see a public sale increase among Manchester City, Real Madrid, Paris Saint-Germain, and different involved events also stimulated Liverpool’s choice to withdraw.
But other factors have made their own, at least not allowing a Premier League- and Champions League-winning side to fade to the extent that a statement signing would require major investment in various areas.
Liverpool was lauded for a transfer strategy under FSG which, mixed with Klopp’s brilliance, helped them win their first league title in 30 years and secure six consecutive seasons of Champions League football. And the revenue the owners need for the sports model.
The succession strategy, however, has appeared increasingly muddled over the past year with Michael Edwards leaving as sporting director and his replacement Julian Ward, just months into the job, announcing he too was heading for his exit.
Ward remains in position until the end of the season and Liverpool will have to leave with several contracts as they are yet to install a successor.
Klopp claims constructive progress has been made on transfers during the recent international break. He insisted FSG would fund a revamp of the squad this summer with Champions League qualification unlikely, Liverpool can’t afford to sit still once again.
Bellingham was played by Liverpool for more than 12 months with Trent Alexander-Arnold and Jordan Henderson playing their roles during and after a World Cup that raised the midfielder’s value and kept him out of reach for Liverpool.
The manager abandoned his policy of not talking about transfer targets to lavish praise on the 19-year-old on several occasions. Steven Gerrard was also on it while serving as a pundit on England’s recent victory over Ukraine.
Now to make the U-turn, while Bellingham will never come cheap and was receptive to a move to Anfield, appears to be a belated acknowledgment on Liverpool’s part of how much work they need to do to reclaim their place as City’s closest rivals. And how Klopp’s patience has run out.
Liverpool has tormented their manager this season with performances that suggest they are not a spent force or far from their relentless best, even with a forward line in transition.
Arsenal on Sunday was the latest example of both showing up in the same game. Given the extended opposition for the pinnacle 4 and the significance of Champions League cash to Liverpool, Klopp does not have the time he once had to polish the rough diamonds of the title winners.
He needs to and has said many times recently, Liverpool needs to act smart and fast when the transfer window opens.
The club has committed to transfer fees worth up to £180 million on forwards Darwin Nunez, Luis Diaz, Cody Gacpo, and Fabio Carvalho since January last year. The midfield is similarly in need of attention, with Mason Mount, Mathews Nunes, Ryan Gravenburch, and Moises Caicedo among the candidates for an overdue overhaul. Defensive weaknesses have also been exposed this season that need to be addressed.
More worrying for Klopp will be the message it sends to the dressing room. Clubs simply don’t have the resources to compete for the best English midfielders on the market because there are so many expensive holes to plug in. But please make a concerted effort to qualify for the Champions League during this period.
