Liverpool

Katharine Sharpe and Simon Casson
BBC Sport senior journalists

The 2025-26 Premier League and Championship seasons included the introduction of squad-cost ratio rules on a shadow basis, testing to see how a spending cap for squad costs set at a percentage of a club's total revenues might work.

These SCR regulations have now been permanently implemented for the 2026-27 season, replacing previous profit and sustainability rules (PSR).

Uefa has a 70% SCR cap for European competitions, so Premier League clubs who qualified for Europe fall in line with this limit.

Clubs who did not qualify for Europe, and so are only taking part in domestic competitions, are capped at 85% of their total revenue.

However, clubs can spend above the 85% limit by using a multi-year rolling allowance of 30%. This allows them to invest ahead of revenue and variance or sporting underperformance.

Every club will start this coming season on 85% + 30% allowance, so effectively 115%.

If a club spends 105% on their squad in 2026-27, it means they have used 20% of their allowance, and for 2027-28 their maximum spend before potential sporting sanction is 95%.

If a club spend less than 85%, they can increase the allowance again to the maximum of 30%.

Spending above 85% but under the allowance results in a financial penalty, whereas going over both the 85% and the allowance will land the club a fixed six-point deduction which increases by one point for every £6.5m spent over the 115%.

'Anchoring' was also trialled in 2025-26, which meant any club's spending could not exceed a multiple of income earned by the bottom-placed club - however this was rejected at a vote of Premier League clubs.

SCR was approved by a vote of 14 clubs to six, and was introduced alongside sustainability and systemic resilience (SSR) regulations.

SSR involves three tests that are applied throughout the season:

Working capital test - assesses short-term cash resources

Liquidity test - assesses medium-term liquidity and resilience

Positive equity test -assesses long-term financial health

The aim of the SCR and SSR regulations is to stop the richest owners providing endless funds to their clubs to sign new players, as any money injected this way does not count as seasonal revenue.

They will also aim to prevent clubs from overspending and accruing unmanageable losses.

Read more about the rules here

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Michael Emons
BBC Sport journalist

Image source, Getty Images

Liverpool have twice paid more than £100m for players - midfielder Florian Wirtz and striker Alexander Isak - and could be about to pay that much once again.

Paris St-Germain and France winger Bradley Barcola has become a main target for Liverpool, with the Reds prepared to pay about £100m, while PSG are holding out for somewhere near £145m.

The club trophies are beginning to stack up already for the fast, direct, skilful winger who loves to run at an opponent and dribble past them.

He came on as a second-half substitute in both the past two Champions League finals, when PSG beat Inter Milan 5-0 in 2024-25 and then in May when they edged past Arsenal on penalties to retain their title.

Barcola moved to PSG from Lyon in 2023 for a reported £38.5m and has since also won three Ligue 1 titles, the French Cup twice, as well as the Uefa Super Cup and the Fifa Intercontinental Cup.

He is right footed, although he prefers to play on the left wing, but can also play on the right or through the middle. However, with PSG also having Georgia's Khvicha Kvaratskhelia and France's Desire Doue as wide options, Barcola does not play 90 minutes every match so a move to Anfield would give him more playing time.

With Mohamed Salah leaving on a free transfer at the end of last season having scored 257 goals in a hugely successful nine-year spell with the Reds, Liverpool clearly need to strengthen their attack.

France forward Hugo Ekitike ruptured his Achilles tendon in April and is not expected to play again in 2026, while Cody Gakpo, another who can play on the left and in the middle, has been linked with a move to Tottenham, although Liverpool say they do not want to sell.

Barcola has already played 28 times for his country and scored three times in this summer's World Cup, including in the 6-4 loss to England in the third-fourth play-off.

However, like at club level, his game time was limited because of the skills of his 21-year-old PSG team-mate Doue.

Boss Didier Deschamps stuck with Ballon d'Or holder Ousmane Dembele on the right and rotated Barcola and Doue, with both men starting four of France's eight World Cup matches, but never in the same game.

Read more about Liverpool's move for Barcola here

Image source, Getty Images

Liverpool have confirmed a series of tributes that will take place to honour club legend Kevin Keegan, who died at the age of 75 last month.

After completing a move from Scunthorpe United in 1971, Keegan won three league titles, the European Cup, two Uefa Cups and the FA Cup during a trophy-laden six years at Anfield.

In a club statement, external, Liverpool confirmed they are in communication with Newcastle United "regarding special tributes" before their Premier League season opener on 23 August.

The club added that another tribute will be held before their first home fixture of the season against Nottingham Forest on 29 August. The players will wear black armbands, there will be a "special fan mosaic" and a minute's silence will be observed.

Liverpool's matchday programme for their pre-season friendly against AS Monaco on 9 August will also pay tribute to Keegan's life and career on Merseyside, and will feature a "commemorative front cover".

As it will be the club's first home fixture since Keegan's death, a period of applause will be observed before kick-off, special tributes will be shown on the screens at Anfield and the players will wear black armbands.

We asked for your views on Liverpool's squad depth and which areas need reinforcing in this transfer window. We also asked whether there are any players you would let go to comply with the Premier League's home grown rules.

Here are some of your comments:

Andy: Clearly, Barcola would be a good addition but the glaringly obvious recruitment gaps are centre back (oh how we all wish that were Guehi) and a number six to free up Gravenberch. With Conor Bradley out, getting Trent Alexander-Arnold back would be nice, but I can't see it. A solid number six and a solid centre-back are the must-haves; Barcola would be the icing on the cake.

Kev: How the lack of balance in the squad has been allowed is quite staggering. We are short in defence compared to last season and half of those who remain will miss periods of the season through injury based on their track record. Offensively, we are miles away from a couple of seasons ago....a lot to do in my opinion to get back challenging at the top.

Fraser: I would sign Barcola and get home grown defenders, ideally a centre-back and right-back or a hybrid player in those roles. For selling, I would sell Chiesa and Mac Allister to make room for new players. Even though losing Chiesa would weaken our attack, he is barely fit and doesn't really fit in the Premier League. I would not sell Gakpo, sure he was frustrating last season but his availability is very good and he can score at least.

Shaun: The problem is, I believe, we're still reeling from losing the likes of Trent, Diaz, even Nunez; never mind the players we've lost this season: Robertson, Salah… We spent a lot of money but it never felt like we replaced those players. Now it's even worse. We've got some good players but the squad feels light and it's hard to imagine us challenging with the squad we have.

John: The biggest problem is with the wing backs. The only one capable is Bradley. Frimpong and Kerkez don't know what they should be doing and Tsimikas just isn't good enough. Another general defender is critical. To spend big money on Barcola just exacerbates the problem as we are using money which should be spent on the defence. Maybe move Frimpong to right wing.

Ian: With the squad we've got at the moment we will struggle. We need a right back, a centre back, a number six and a winger at the very least. A couple of class midfielders wouldn't go amiss either because the midfield was poor last season. Whether FSG will fund the requirements is a cause for concern because they are desperately needed.

Dave: Looking so frail at left back and Tsimikas is top of the list for non-home-grown players to be invited to explore career options. Bring in some young keen home talent and still acknowledge opponents will attack down that flank.

Keifer MacDonald
BBC Sport journalist on BBC Radio Merseyside

It is a massive season for Alexander Isak.

It sounds weird because he is Liverpool's most expensive player in their history, but people have forgotten how much he cost and how big of a coup his arrival was viewed as last summer.

Talk about replacing Mohamed Salah - that's something Liverpool clearly had on their mind last summer. I think we can all agree you're not going to find a right forward who has the output of Salah.

He was the unicorn in the transfer market and a generational player in that respect. I think Liverpool have maybe looked at replacing Salah's numbers through an out-and-out number nine.

That's something we haven't seen Liverpool use over the last couple of years. If you think back to the peak Jurgen Klopp era, it was Roberto Firmino who was a false nine dropping into midfield.

It seems like the weight of Salah's goals, assists and contributions is going to be shared between the other players in the front three, but largely the number nine, which is going to be Isak.

You factor into that equation the fact Hugo Ekitike is not going to be around. Last season it was Isak who was out for most of the season, and it was Ekitike who took on that responsibility, but now the roles have been reversed.

I think the thing for me is, can Isak play three games a week?

Listen to more on Liverpool on BBC Sounds

The Liverpool players return to training from Wednesday before taking on Monaco in a friendly at Anfield on Sunday (14:30 BST).

Dominik Szoboszlai was full of praise for 19-year-old Trey Nyoni, who has been one of the standouts of pre-season so far. The midfielder only managed 229 minutes under former boss Arne Slot last season but has put himself in line to play a more prominent role under Iraola.

"I always knew that he's a good player. In training, he showed his quality many times," said Szoboszlai. "Also when he had the chance to play in some cup games or even in the Premier League. He's a very good player. The squad is short, so we need everybody."

And Szoboszlai agreed it is a clean slate for everyone in the squad before Liverpool begin their Premier League season at Newcastle United on 23 August.

"It's a new manager. Everyone is motivated. I think I see in everybody's eyes that he wants to play - and if you want to play, you have to give your best," he said.

"And from there on, the manager is going to decide who is going to play. But everybody is on zero right now."

Szoboszlai also clarified he did not mean to cause confusion when he said "if Alexis [Mac Allister] comes back" in a media conference on Thursday.

He said: "That's my English, guys. It's not 'if' - it's 'when' he comes back. So now I make it clear. He's coming back and he's going to be part of the team as much as I know."

Read more of Szoboszlai's comments

Aadam Patel
Football reporter

Image source, Getty Images

Given last season was Rio Ngumoha's breakthrough year and the 17-year-old is expected to play a much more prominent role this season, the focus must go on Trey Nyoni, who has been one of the standouts of Liverpool's pre-season.

Nyoni, 19, was considered one of the players who could play in the first team under Arne Slot but was not given the opportunity he desired.

"Even when he [Trey] has one opponent quite close, he asks for that ball and he's confident, he doesn't rush. For me, that is very valuable," new Reds manager Andoni Iraola said.

With that in mind, the chances of the midfielder getting more game time this season have definitely increased.

Read more on youngsters to watch at each Premier League club this season

Liverpool midfielder Dominik Szoboszlai says he has "cleared" the situation with team-mates Curtis Jones and Kostas Tsimikas after a video emerged last week showing the trio seemingly arguing over the captain's armband.

The incident came after the 1-0 pre-season win against Wrexham at Yankee Stadium in New York.

Following the full-time whistle Jones, Szoboszlai and later Tsimikas argued with each other as the team walked across the pitch to applaud supporters.

During the match Szoboszlai gave the captain's armband to Tsimikas rather than Jones when he was subbed off, and during the argument the Greece left-back was filmed throwing it to the floor.

In the 4-2 defeat by Leeds on Sunday, Szoboszlai gave the armband to Jones.

"It was never a debate between us three," said the Hungary captain. "We just discussed something on the pitch. Which actually, after, you guys [the media] make it very big. But next time we will manage to do it in the changing room. Nobody was angry at no-one. It's all cleared - we are cool."

Read more from Szoboszlai on Liverpool's vice-captaincy

Liverpool's current squad depth has come under the spotlight in recent weeks with fans and pundits alike wondering how the Reds will fare this season with several positions looking short of quality and experience.

The Anfield side have let go of key figures Mohamed Salah, Andy Robertson and Ibrahim Konate this summer and have brought in young talents Jeremy Jacquet at centre back and Victor Munoz in attack.

They have been linked with bringing the highly-rated Bradley Barcola in to reinforce the attack from Paris St-Germain in what would be a big-money move, while fans are also hoping there will be further additions in defence.

Another factor Liverpool have to bear in mind with their squad building this summer is the amount of 'home grown' slots they have. Every Premier League club is only permitted to have 17 non-home-grown players in their 25-man squad.

In last season's squad, the Reds used all 17 slots. They have since allowed three non-home-grown players to leave but added two in, so the club are still close to breaching the league's rules and will have to think about who they bring in and let go.

If they do sign Barcola, it would fill their quota, meaning players may need to be sold to create space for more signings.

What do you make of the state of Liverpool's squad at the moment? Which areas do you think they could improve, and are there any non-home grown players you would let go of to make sure the club do not breach Premier League rules?

Get in touch with your views here

Aadam Patel
Liverpool reporter

Image source, Getty Images

Andoni Iraola has said repeatedly that his side are "thin" at the back, not helped by the departures of experienced defenders Andy Robertson and Ibrahima Konate.

Jeremy Jacquet and Giovanni Leoni are huge talents but not proven and given his injury record, Joe Gomez will not be able to paper over the cracks.

Sporting director Richard Hughes was at the friendlies in Nashville and New York but not at the game on Sunday. He will know as much too.

At the very least, Liverpool need to bring in at least one name that can play at centre-back and potentially at right-back, given Conor Bradley is still "way off" a return.

Arne Slot used Curtis Jones and Dominik Szoboszlai as emergency right-backs last season and that can't happen again. Ideally, they need someone with experience.

"You have to ask the manager, not me," Szoboszlai said after the Leeds defeat on what his role in the team looks like going forward.

"Last season I played a lot of positions. Let's see. Hopefully he puts me in midfield but if he needs me at right-back, happy to do that."

Former Liverpool captain Phil Thompson told BBC Sport in Chicago that Iraola will rely on more experienced players, both old and new.

"You look back when Jurgen [Klopp] won the league and you had [Jordan] Henderson and [James] Milner. And a fantastic leadership group with Virgil, Alisson, Mo [Salah] and even Trent [Alexander-Arnold] went on to become a leader.

"That has dwindled. So you need new ones to come in. We've lost some good players so people need to step up.

"That dressing room needs to be tight and they need to lay down some player rules. Because when you have a difficult time, they need strong voices.

"Right now, there's only Virgil and Ali [Alisson]. Someone like Szoboszlai has to step up too and I think he will."

Read more about Liverpool's summer so far here

Image source, Getty Images

Dan Clubbe from The Redmen TV says he's "not panicking" after the pre-season defeat by Leeds, but the game did highlight "the issues the Reds have with squad depth."

Speaking to BBC Radio Merseyside, Clubbe said: "It's hard not to be disappointed by the end result, particularly because it was a game of two halves.

"You can't feel optimistic about that second half because it was all over the place. Leeds took the advantage and capitalised on it.

"If you look at the first half, then I think you can be a bit more hopeful and upbeat. But the second half, certainly outlined some of the issues the Reds have with squad depth.

"Results don't matter at this level, but when you do dig a bit deeper, you do wonder what it is going on.

"We lost Jeremie Frimpong in this game, on top of already losing Joe Gomez in this pre-season, so you're looking at the squad and they're in dire need of reinforcements. The squad depth just isn't there.

"I'm not panicking but I am a little bit concerned. Things need to start happening fairly quickly."

Listen to the full discussion on BBC Sounds here or by pressing play below

Liverpool have no plans to sell Cody Gakpo, 27, despite Tottenham making their interest in the Netherlands forward known. (Mail - subscription required), external

Want more transfer stories? Read Tuesday's full gossip column

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Should a club build a new stadium or upgrade its current home in a bid to maintain some history? How significant is a new ground in terms of revenue generated? Will it move the needle?

BBC Sport has worked with football finance expert Kieran Maguire to consider the impact a new home has.

Take a look at your club's matchday revenue figures from 2024-25 below and get the full article here.

Aadam Patel
Liverpool reporter

Image source, Getty Images

When BBC Sport spoke to Liverpool CEO Billy Hogan in New York, the message was very much that FSG will continue to invest when it comes to doing what is best to put the team in a place to win.

With Dominik Szoboszlai, Ryan Gravenberch and Alexis Mac Allister, Liverpool have solid options in midfield.

Szoboszlai and Gravenberch signed new contracts this year while Andoni Iraola will be hoping to get the most out of Mac Allister, who was nowhere near his best last season.

One department where at least one more signing is guaranteed is up front, with PSG'S Bradley Barcola now Liverpool's primary target after they missed out on Yan Diomande. Liverpool have already signed Victor Munoz from Osasuna for £34m.

It would be unfair to tag Barcola as the direct replacement for Mohamed Salah but with PSG valuing him at £145m, it would be a statement signing.

Liverpool are more willing to do a deal at about £100m, with Barcola open to a move to Anfield.

In June, BBC Sport reported that Tottenham were among a number of clubs monitoring Cody Gakpo's situation but such a move would only take place if Liverpool have a replacement and given he has four years left on his contract, the Netherlands international would not come cheap.

Liverpool still view him as a proven attacker in the Premier League who can function in different ways and with Hugo Ekitike unlikely to feature this year because of a ruptured Achilles tendon, letting Gakpo go would be a big call.

Mike Gordon, the FSG president and essentially the managing owner of Liverpool, was in Chicago on Sunday.

Like everyone else associated with the club, he would have seen the excitement for the Iraola era in full flow in the first half against Leeds before the realisation after the break this squad is in need of more incomings.

Read more on Liverpool's summer here

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We asked for your views on how you see Liverpool's winger situation this season and whether you think Andoni Iraola's side needs to sign a right-sided specialist?

Here are some of your comments:

Nick: Liverpool need to sign a specialist. The tour is done and Andoni Iraola has now reviewed the squad, so I'd expect there to be player movement. Liverpool need a top class winger on the right. OK, they arguably don't have one on the left, but the right side is a need. Bournemouth's Rayan is the best and most obvious option.

Bolderdash: Without a doubt, we need a new right-winger to replace Salah. I don't believe we have anyone who could take Salah's spot and deliver anything like Salah did in the past. It's not finding someone who can do what Salah did as I don't believe that player exists, but it's finding someone as close as possible to provide those goals and assists going forward and who could be around for the next four or five years at least.

Alan: Yes, we need a right-sided attacker or winger to replace Salah. However, we are in far, far greater need of a ready-to-go pacey centre-half to help Virgil van Dijk. Please sort out the defence. No side has ever won a league title with a poor defence.

Tim: In Harvey Elliott and Rio Ngumoah, Liverpool have two excellent wingers capable of interchanging from one side to another. With Alexander Isak reaching peak fitness and Florian Wirtz operating as a number 10, l have no fear that the team will score goals this season. What is more disturbing is the team's vulnerability at centre-half. With only Virgil van Djik an experienced certainty. Perhaps Liverpool should consider playing Ryan Gravenberch in central defence.

Finn: I am absolutely shocked by the lack of business done by Liverpool. I am appalled by Richard Hughes. There has been more transfer chat about him leaving next year than anything else, and it comes across as so unprofessional that he might leave Liverpool having had his final transfer window be such a failure. Obviously, we need a right-wing specialist who can also operate across the front three. A centre-back is glaringly obvious too.

Nigel: We need squad depth, which means we might have to take a step back to go forwards. I think Curtis Jones needs to go. The drop-off last night from the first half to the second was alarming. Cody Gakpo can also be sold to generate some funds along with the likes of Lewis Koumas. We need help in central midfield and out wide.

There is only 23 days to go until Andoni Iraola starts his Premier League reign at Liverpool with an away fixture against Newcastle.

However, as pre-season ticks along, Reds fans will be curious about how he will adapt his Liverpool side without Mohamed Salah.

Speaking before Liverpool's 4-2 defeat to Leeds United in Chicago, Iraola said: "First our wingers, normally I'm used to trying to encourage them to have the ability to play both sides."

During Iroala's tenure at Bournemouth, he often interchanged wingers to play on both sides, something which proved difficult for opponent's defence.

"I know some of them are more comfortable on one side, but our team is not normally symmetrical. So sometimes one of the wingers have to do more defensive work, sometimes one has to play more higher," added Iraola.

How do you see Liverpool's winger situation this season? Do they need to sign a right-sided specialist or are you comfortable if the club use right-footed players on the right - a move away from how Salah filled the role.

Get in touch with your views here