How did Liverpool afford their £450m summer of spending?

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The message from the Liverpool fans was clear.

As the dust settled on their team's pulsating 3-2 victory over Newcastle United at St James's Park last week, the away supporters clamored for their opponents to "hand him over." The "him" in question, of course, was Newcastle's wantaway striker, Alexander Isak.

A week on from that dramatic win on Tyneside, the Liverpool faithful got their wish as he finally sealed a British-record £125 million ($169m) move on deadline day.

It was an eye-watering sum of money in a summer in which the Premier League champions have flexed their financial muscles more than any club in the world.

Liverpool's total expenditure this summer sits at around £450m, inclusive of add-ons.

In a landscape where clubs live and die by their compliance with financial rules, both domestically (profit and sustainability rules, or PSR) and in Europe (Financial Fair Play), there will understandably be confusion in some quarters about Liverpool's ability to spend so freely this summer.

Only Chelsea have spent more in a single transfer window (almost £600m in 2022-23), and yet Liverpool are not in danger of breaching either the Premier League or UEFA's financial regulations.

So how have they done it?

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- Transfer Grades: Liverpool get a B- for £125m record Isak move

Liverpool's shrewd financial planning set the stageAlexander Isak arrived for a British-record £125m fee. Nikki Dyer - LFC/Liverpool FC via Getty Images

The first indication that this would be no ordinary summer for Liverpool arrived back in April.

Revenues are expected to top £700m for the very first time."

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With record revenues having broadened the parameters of Liverpool's financial capabilities, the club's impressive track record of recouping significant fees for departing players has also afforded them further headroom in terms of the Premier League's profit and sustainability rules.

The exits of first-team stars such as Luis Díaz, Darwin Núñez and Jarell Quansah helped generate around £260m this summer, inclusive of add-ons.

While still abiding by the rules, the Premier League champions have assembled a squad with the quality to challenge for the game's biggest prizes not just this season, but for the foreseeable future.

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For perhaps the first time ever, Liverpool have "won" the transfer window.

It goes hand in hand for FSG."

In breaking records to sign Isak this summer, Liverpool have further reinforced their status as the team to beat in the Premier League this season