Carragher: Liverpool’s £445m 2025 spend could be worst

Jamie Carragher has warned that Liverpool’s £445m transfer spend for the 2025-26 season could become the worst in Premier League history if the new signings fail to improve. The Reds spent record amounts on Florian Wirtz (£116m), Alexander Isak (£125m), Hugo Ekitike (£79m), Milos Kerkez (£40m), Jeremie Frimpong (£29.5m), Giorgi Mamardashvili (£29m) and Giovanni Leoni (£26m), but finished fifth, 25 points behind Arsenal. Carragher says only Ekitike performed, and if the others do not step up under Andoni Iraola, the window may be condemned as the worst ever.

Massive £445m spend

Liverpool’s summer of 2025 saw the club break the Premier League record twice, signing Florian Wirtz for £116m and Alexander Isak for £125m. The Reds also paid £79m for Hugo Ekitike, £40m for Milos Kerkez, £29.5m for Jeremie Frimpong, £29m for Giorgi Mamardashvili and £26m for Giovanni Leoni, bringing the total outlay to £445m ahead of the 2025-26 campaign.

Underwhelming results

The investment did not translate into silverware. Liverpool finished fifth in the Premier League, 25 points behind champions Arsenal, and manager Arne Slot was sacked at the season’s end. Andoni Iraola replaced him earlier in the summer. Carragher notes that, aside from Ekitike, none of the new signings have delivered.

Carragher’s warning

"If this doesn’t change in the next two or three months under Iraola and these players improving, I think we’re looking at the worst transfer window in Premier League history," Carragher said on Sky Sports’ Monday Night Football. He added that the 12-month window of underperformance could set Liverpool back a year or two. Carragher emphasised that the signings were meant to create a dynasty after the club’s 2024-25 title win.

Neville’s criticism

Gary Neville also criticised Wirtz and Isak after Liverpool’s 2-2 draw at Newcastle. Wirtz was substituted after 63 minutes, and Isak failed to perform in his first appearance back at St James’ Park. Neville said the pair are "too nice" and need a tougher side to their game. He urged Wirtz to become more involved in the build-up and to act as a second striker rather than a third-midfield player.

Liverpool host Nottingham Forest in the 12.30pm kick-off.