Liverpool spending backed by title win and long-term plan, says CEO
LIVERPOOL : Liverpool's big-money investment on transfers is the result of long-term planning, club CEO Billy Hogan said, adding that winning a record-equalling 20th English top-flight title convinced the club it was time to act like a modern powerhouse.
Liverpool's latest acquisition, French striker Hugo Ekitike from Eintracht Frankfurt in a deal worth £79 million (US$106.84 million), including add-ons, has taken the club's transfer expenditure this window to nearly £300 million.
Outgoings, six players including Trent Alexander-Arnold, have so far generated around £64 million.
The outlay marks a sharp departure from Liverpool's traditionally measured approach in the market. However, Hogan insists the club has not deviated from the club's policy of financial sustainability.
'It doesn't just happen; it's been years in the making,' Hogan told The Athletic in an interview.
'One of the things we're constantly focused on is that 'virtuous circle'. Trying to run the club in the right way to ensure that we can generate as much revenue as we possibly can. That obviously helps in terms of being able to put more back into the team.
'The difficulty is if you just look at one individual summer. That probably skews the data. There were a lot of comments made last summer that we didn't spend enough…'
Hogan explained the approach reflects the ambitions of American-led Fenway Sports Group (FSG), who are seeking to build on last season's Premier League title under manager Arne Slot.
'We also recognise, having won the English league title for the 20th time, that this is one of the biggest clubs in the world. We want to make sure that we are behaving like one,' he added.
'Having massive global stars come and play at Anfield, filling out stadiums in Hong Kong and Japan, those are things we expect and want to do.'
Liverpool face AC Milan in Kowloon, Hong Kong on Saturday, before taking on Yokohama FM in the J League World Challenge in Yokohama on Wednesday. They begin their Premier League title defence at home against Bournemouth on August 15.
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