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Newcastle had a club-record offer of £70m for Ekitike rejected by Frankfurt.

The 23-year-old was an unused substitute during his side's pre-season game against FSV Frankfurt on July 19 and after the game, Frankfurt boss, quoted by Sky Germany, said Ekitike's departure is "a bitter loss".

Ekitike scored 22 goals in 48 games across all competitions last season for Frankfurt as he helped them qualify for the Champions League.

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Liverpool are now the league's biggest spenders - but how?

Liverpool are now the Premier League's biggest spenders, with their summer spree now verging on £300m.

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The £79m deal for Hugo Ekitike has taken Liverpool's spending to £295.5m, which is over £75m more than the next biggest spenders in Chelsea.

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Liverpool have even spent more than Manchester City and Arsenal combined - the third and fourth biggest spenders - so far.

Tottenham are the fourth biggest spenders with £110.7m spent, just above newly-promoted Sunderland who have spent £107m already.

But how can Liverpool afford Ekitike having already spent a club-record fee to bring Florian Wirtz to Anfield earlier this summer?

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Well, the club's financial records indicated they could potentially lose a further £200m this summer and still be compliant with Profit & Sustainability Rules (PSR) - where clubs are permitted to lose £105m over a three-year period.

According to football finance expert Swiss Ramble, the Reds' most recent financial results showed Liverpool have actually made £48m in the current three-year PSR period, partly due to modest recent transfer spend.

That means Liverpool can lose a further £158m and still be compliant next summer.

And while Liverpool have already spent around £185m on new players in the current window - including a fee of up to £116m for Wirtz - the Reds posted a club record revenue of £613.8m for the 2023-24 season, partly due to commercial success.

That figure will only increase on the 2024-25 season accounts given Liverpool added Champions League football, knockout qualification for that tournament and also became Premier League champions.

Academy product Jarell Quansah has already joined Bayer Leverkusen in a £35m deal that represents 100 per cent profit under PSR rules, and the Reds could further boost sales figures by the end of the summer.

And earlier in the summer, Brentford signed backup Reds goalkeeper Caoimhin Kelleher for an initial £12.5m.

Darwin Nunez, Harvey Elliott and Luiz Diaz are all further potential departures, although a Diaz exit is currently less likely despite Bayern Munich's attempts to prise him away.

What have Liverpool seen in the forward at Frankfurt?

Ekitike is a multi-functional centre-forward who can operate as a No.9 but has the ability to fulfil other roles too.

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