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The Reds are poised to complete a record-breaking $157 million transfer for German midfielder Florian Wirtz, a deal that signals the club’s determination to build a competitive squad for years to come.

The 24-year-old wing-back and close friend of Florian Wirtz, made the switch to Merseyside from Bayer Leverkusen for $40 million (£29.5 million).

Wirtz is the first major investment in an established elite player since goalkeeper Alisson joined from Roma for $88 million (£65 million) in July 2018, shortly after the $101 million (£75 million) signing of centre-back Virgil van Dijk from Southampton.

Over the past two transfer windows, the only significant addition to manager Arne Slot’s first-team squad was Federico Chiesa from Juventus, signed for an initial $13 million (£10 million)

Liverpool also secured a $39 million (£29 million) deal with Valencia for goalkeeper Giorgi Mamardashvili, who is set to join the club this summer

Meanwhile, Liverpool have generated up to $35.8 million (£26.4 million) from the recent sales of Trent Alexander-Arnold and Caoimhin Kelleher, with that total expected to increase as further departures are confirmed ahead of the September 1 transfer deadline