Liverpool have hardly touched secret transfer fund as Alexander Isak bid now imminent

Liverpool's owners, Fenway Sports Group (FSG), have made funds available over the past few years to allow Arne Slot to continue spending in the transfer market. The Reds have splashed nearly £300million already on Florian Wirtz, Hugo Ekitike, Jeremie Frimpong and Milos Kerkez, with Alexander Isak potentially next to join.

A meeting is reportedly scheduled for the next 24 hours between Newcastle and Liverpool, where the Premier League champions are expected to present their first formal offer. Eddie Howe's outfit want a fee in the region of £150m to consider selling their talisman, with Liverpool likely to offer £100m as an opening bid, hopefully that a compromise can be reached in the middle.

If Isak does get his wish, with a five-year contract already agreed on Merseyside, his capture would take Liverpool's spending over the unprecedented £400m mark.

Luis Diaz, who has agreed a £65.4m switch to Bayern Munich, is the only significant outgoing. Darwin Nunez and Harvey Elliott could follow, but many have been left perplexed at how Liverpool have been able to spend at such a rate, while others are fearful of the league's profit and sustainability rules.

The Athletic claim that access to funds is no problem at Anfield. FSG preferred to loan money for infrastructure spending as opposed to transfer deals and operating costs, but refinanced a revolving credit facility in September last year, lifting its limit from £200m to £350m.

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In May 2024, it had only drawn down £116m of that £200m, leaving plenty of room in the coffers to be dipped into.

Their operating cash flow in 2023/24 was positive at £83.7m even without Champions League revenue, with further spending reduced following the completion of the redeveloped Anfield Road End.

Liverpool only entered the market for goalkeeper Giorgi Mamardashvili last summer, while their rivals spent big and still finished behind the eventual champions.

Those savings, plus the helping hand from FSG, have allowed a recruitment department led by Michael Edwards and Richard Hughes to spend liberally.

Billy Hogan, club CEO, said that this summer's big-money investment is the result of long-term planning. He described it as "years in the making" and is propelling Liverpool into a financial juggernaut.

"It doesn't just happen; it's been years in the making," Hogan said.

"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.

"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."