Jamie Carragher, a prominent figure in Liverpool's history, has voiced concerns that the club's substantial investment of £445 million in the 2025 summer transfer window could be the least effective in Premier League history. Carragher fears the underperformance of these signings could set the club back by one to two years.
The significant expenditure was made ahead of the 2025-2026 season as Liverpool aimed to defend their 2024-2025 Premier League title. During that window, the club broke the Premier League transfer record twice, first acquiring Florian Wirtz for £116 million and then signing Alexander Isak for £125 million. Other notable acquisitions included Hugo Ekitike for £79 million, Milos Kerkez for £40 million, Jeremie Frimpong for £29.5 million, Giorgi Mamardashvili for £29 million, and Giovanni Leoni for £26 million.
Despite this massive outlay, Liverpool finished fifth in the Premier League, a full 25 points behind champions Arsenal. The team's struggles led to the dismissal of manager Arne Slot at the end of the season, with Andoni Iraola appointed as his successor.
Carragher, speaking on Sky Sports' Monday Night Football, indicated that most of the 2025 signings, with the exception of Ekitike, must significantly improve in their second season at the club. He stated, "My fear of watching Liverpool yesterday [Sunday], and it's the first game of the season, is this window of 12 months ago could set Liverpool back a year or two to fix it." He added that he believes these players have had an extended period of being shielded from criticism due to the focus on Arne Slot's management style.
"If this doesn't change in the next two or three months under Iraola and these players improving, I think we're going to be looking at that as arguably the worst transfer window we've probably seen in Premier League history when you consider the fees for these players and what they were going to do for Liverpool," Carragher commented. He emphasized that the intention behind these signings was not merely to add good players but to establish a lasting legacy, drawing parallels to the sustained success of clubs like Manchester City and Manchester United.
Gary Neville, another former player and pundit, echoed some of Carragher's sentiments, particularly regarding Wirtz and Isak. Following Liverpool's 2-2 draw at Newcastle, Neville suggested that the pair, who combined cost £241 million, are "too nice" and need to adopt a more tenacious approach to their game. He noted that while Wirtz has talent, his playing style can be too languid, and he needs to redefine his role to contribute more goals and assists. Neville described Wirtz as a player who "drifts too much" and suggested he should be more involved in the build-up play and act more like a second striker than a third midfielder.
Neville also commented on Isak, acknowledging his past effectiveness against top defenses but stressing the need for consistent delivery given his transfer fee. He stated that both players "are going to have to start playing soon or else to be fair they're going to get a lot of criticism. They're going to have to start delivering."