Report: The Real Cost Behind Liverpool’s Wirtz Signing | OneFootball

How Can Liverpool Afford Florian Wirtz?

Record-Breaking Deal Marks a New Era

Liverpool’s signing of Florian Wirtz from Bayer Leverkusen is nothing short of monumental. At a guaranteed £100 million — with potential add-ons bringing the total to £116 million — Wirtz becomes the most expensive player in the club’s history, eclipsing Virgil van Dijk’s £75 million fee from 2018 and even Darwin Núñez’s performance-based package.

It’s not a move Liverpool make often. As Chris Weatherspoon of The Athletic notes, “Anfield’s executives do not often spend big on ready-made superstars but they were glad to make an exception for [the] German star.” The club’s historical frugality under Fenway Sports Group (FSG) has made such deals a rarity — and all the more significant.

Financial Firepower Behind the Transfer

Liverpool’s ability to fund this megadeal lies in its soaring financial health. In 2023–24, the club surpassed £600 million in revenue despite playing Europa League football. That figure is expected to have topped £700 million last season after reclaiming the Premier League title and re-entering the Champions League.

The numbers are staggering. Liverpool earned £181.5 million just from winning the league, and a new TV rights cycle plus an upcoming kit deal with Adidas (replacing Nike’s already-lucrative agreement) promises further growth. As Weatherspoon explains, “Liverpool’s commercial growth is well-placed to continue.”

Controlling Costs While Making Statements

Though the club reported a pre-tax loss of £57.1 million in 2023–24, this was an outlier. Weatherspoon projects Liverpool returned to “healthy profitability” in 2024–25, potentially netting a £30 million profit even with a wage bill nudging £400 million.

Wirtz is expected to earn £200,000 per week, translating to at least £12 million annually in total employment costs. Yet, the departure of Trent Alexander-Arnold, who was on a similar package, softens the blow.

Importantly, Liverpool’s amortisation costs remain relatively modest. The cost of Wirtz’s transfer — plus agent fees — spreads out to around £21.8 million per season. Combined with Jeremie Frimpong’s signing, Liverpool’s amortisation increases, but still lags behind Chelsea, City, and others.

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PSR, Cash Flow and FSG’s Calculated Gamble

Profit and Sustainability Rules (PSR) aren’t an obstacle. Even with the additional £34 million in annual wages and amortisation costs from Wirtz, Liverpool remain well within the thresholds. As The Athletic outlines, “They aren’t needed to satisfy PSR… but they will help balance both the squad and the books.”

Nor is cash flow a concern. Liverpool have access to a £350 million revolving credit facility, and with only £116 million drawn as of May 2024, there’s ample liquidity. Their outstanding transfer instalments are also minimal compared to rivals, making them financially nimble.

As Weatherspoon sums it up: “FSG’s ownership has not been to every fan’s taste, but it is precisely because of its frugality that Liverpool are able to make these deals when opportunities arise.”

Our View – Anfield Index Analysis

From a Liverpool fan’s perspective, this is the kind of signing dreams are made of. Florian Wirtz isn’t just a high-profile addition — he’s the type of creative force Anfield has yearned for since the days of Philippe Coutinho. Wirtz has been sensational in the Bundesliga and now arrives ready to light up the Premier League.

Critics often accuse FSG of being too cautious, but this deal is proof that when the right player becomes available, the owners are prepared to back the footballing side with serious investment. The timing, too, is symbolic — fresh off a league title and with a young squad brimming with potential, this feels like a statement of intent.

Wirtz at £200,000 a week is hardly cheap, but it’s a sustainable move. And if Darwin Núñez is sacrificed to fund part of this rebuild, few would begrudge it. The Wirtz era could be the next phase of Liverpool’s journey.