Carragher questions whether Liverpool’s £450m rebuild can deliver after difficult first season

Liverpool’s £450m spending spree in the summer of 2025 could come to be regarded as the worst transfer window in Premier League history, according to former defender Jamie Carragher.

The club invested around £450m in seven players after winning the Premier League title during Arne Slot’s first season in charge. The deals included a British-record £125m move for Alexander Isak and a transfer for Florian Wirtz which could eventually cost as much as £116m.

However, with the exception of Hugo Ekitike, most of Liverpool’s summer arrivals struggled to produce the expected impact during their first campaign at Anfield. Liverpool dropped to fifth in the table and Slot was relieved of his duties.

Isak and Wirtz again found it difficult to make a decisive contribution during Liverpool’s 2-2 draw with Newcastle on Sunday, prompting a strong response from Carragher about the club’s recruitment last summer.

“It’s the first game of the season, but my fear is that the transfer window 12 months ago could leave Liverpool a year or two behind in terms of fixing the situation,” Carragher said, in comments reported by ESPN.

“Yes, it’s one game under Andoni Iraola, but we’re talking about 12 months of underperformance from all of these players apart from Ekitike.”

He added: “If this situation does not change over the next two or three months under Iraola, and if these players’ levels do not improve, I think we will probably look back on that period as one of, if not the, worst transfer windows we have seen in Premier League history, when you consider the value of the deals that were made to sign these players and what it will mean for Liverpool.”

Liverpool’s starting line-up against Newcastle included four players signed during the previous summer window: Isak, Wirtz, Jeremie Frimpong and Milos Kerkez.

Their involvement came after the club lost four experienced first-team regulars during the summer in Mohamed Salah, Andy Robertson, Ibrahima Konate and Curtis Jones.

Carragher said Liverpool had intended the signings to form the foundation of a sustained period of success, rather than simply strengthen the squad in the short term.

“The idea of signing these players was not just for them to come in and be good players, but to build something like a mini-dynasty at Liverpool,” he said.

“We must not forget that Liverpool won the league two years ago. These players were supposed to do what Manchester City have done over the last few years, or what Manchester United did in the past, when a team goes on to win the league two or three times in five years.”

Wirtz has faced particular scrutiny since his move to Anfield. Carragher rejected the suggestion that every player needs a full season to adjust to the Premier League.

“This idea that players need a year to settle into the Premier League, I think that’s somewhat of a myth. I don’t think there are many examples where that happens,” he said.

“I don’t think we are seeing a massive drop-off in performance. I think what we have seen from him over a year is probably his true level. He is an elegant and tidy footballer.”

Carragher continued: “He is not a player who should be worth £110m. He is someone who should perhaps be worth £50m or £60m, something like that. An elegant and tidy player, with a great touch. I’m not sure what people expect from him.”