How Can Liverpool Account for Their £670 Million Spent on 16 Signings?

Liverpool officially announced the departure of sporting director Richard Hughes. The executive, who oversaw the transfer market at Anfield for two years, leaves behind a recruitment bill totaling as much as £670 million. Among the 16 new signings, some have become pillars of the team, some are still proving themselves, and others have already been labeled as 'flops.' Was this huge investment worth it? A detailed review of the record does not produce an optimistic answer.

16 signings, with only three receiving B grade or above

Based on comprehensive ratings of the 16 players' performances, the results show a clear divide. Only three signings can truly be considered 'successful': Bradley Barcola (£123 million, Grade B), Hugo Ekitike (£69 million, Grade B), and Jeremy Jacquet (£60 million, Grade B).

Barcola, Hughes' flagship signing, joined from Paris Saint-Germain last month and became the third signing in Liverpool's history to exceed a £110 million transfer fee. He has shown the greatest growth potential so far, but it is still too early to draw a final conclusion. Ekitike made a highly convincing start, but later suffered a serious Achilles tendon injury that cast a shadow over his career. Jacquet has developed good chemistry with Van Dijk in defense and represents a successful plug-and-play example.

High-priced signings underperform, with D-grade players piling up

What truly concerns Liverpool supporters are the players who cost large sums but have yet to fulfill their potential. Alexander Isak (£125 million) and Florian Wirtz (£116 million) have so far failed to consistently prove their fees were justified, with both receiving only a C grade. Both were top targets in the transfer market, but they have yet to find a consistent rhythm of output within Liverpool's system.

Even more striking are the four D-grade signings. Federico Chiesa (£12.5 million) has been plagued by injuries, with the assessment stating he is 'simply not good enough'; Milos Kerkez and Jeremie Frimpong also received poor ratings. Mamardashvili, signed as a backup to Alisson, has yet to convincingly prove he can become the long-term successor to the Brazilian goalkeeper. These deals can largely be viewed as failed investments during Hughes' tenure.

Low-cost scouting proves to be the best value

Interestingly, Hughes' most cost-effective deals came from the more careful side of recruitment. Freddie Woodman joined on a free transfer and delivered reliable performances during an emergency situation at goalkeeper, earning a C grade. Armin Pecsi (£1.5 million) and Ifeanyi Ndukwu (£2.6 million) are typical youth investments with clear potential to increase in value, creating a sharp contrast with the expensive failed cases.

The contrast of 'high prices do not guarantee security, while low-cost deals can bring surprises' highlights the complexity of the transfer market—the price tag has never been a guarantee of performance.

Managerial change combined with sporting director departure, Liverpool enter a rebuilding period

The timing of Hughes' departure is notable. The club has just gone through a managerial change, with Arne Slot leaving and Andoni Iraola taking over, while Hughes himself moved to Al Hilal. This means the squad he assembled will face a fresh evaluation from the new coaching team.

For underperforming players such as Kerkez and Frimpong, the arrival of a new coach may represent a second chance; for others, the future remains uncertain. A team in transition fears repeatedly tearing down and rebuilding its squad—the true amount of long-term value created from the £670 million investment may only become clear after Iraola's tactical system is fully established.

Hughes' transfer record resembles the typical operations of a mid-table Premier League club: there were sharp low-cost discoveries as well as expensive gambles that failed. Liverpool's next sporting director will inherit not only a £670 million bill, but also a situation requiring the club to prove again that its money was spent wisely.