Andoni Iraola's appraisal was frank and accurate. "We need more players," he said in his first news conference as Liverpool boss. "We know this. The club is working on this."
The admission came on July 13, when the summer transfer window still promised to help address the imbalance of a squad that limped to a fifth-place finish under Arne Slot last season when defending their Premier League title. However, now the summer deadline day has passed, Iraola looks to have been dealt the same imperfect hand as his predecessor, with a number of the team's deficiencies left unaddressed.
In terms of pure numbers, Liverpool's squad is actually weaker than it was last term. The four first-team incomings have been offset by the marquee departures of Mohamed Salah, Andy Robertson, Ibrahima Konaté and Curtis Jones, followed by the exits of fringe players Calvin Ramsay and Stefan Bajcetic. Midfielder Harvey Elliott has also joined LaLiga side Valencia on a seasonlong loan.
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While the latter trio have admittedly played a nominal role for Liverpool in recent years, the fact remains that the Reds have declined to prioritize squad depth at a time when the ever-increasing rigors of elite football demands it -- something champions Arsenal proved at the end of last season. Ahead of a campaign in which he will manage in the UEFA Champions League for the first time, Iraola himself has remained consistent in his desire for incomings.
"We will definitely sign some players," he told Sky Sports on Aug. 21. "Some deals you have to wait until the end. But the end is the important picture, the one we will have on Sept. 1, because it is true that we are still quite thin."
In the intervening weeks, though, Liverpool have made just one further signing in the shape of France international Bradley Barcola, who joined for an initial €123 million (and another potential €19 million in add-ons) from Paris Saint-Germain. And while the left-sided forward should add some much-needed pace and dynamism at the top end of the pitch, he does not help to solve the lack of depth on the right wing (though he can play there), or the Reds' glaring issues in midfield and at right back.
Ultimately, that is the crux of Liverpool's problem. This summer has undoubtedly seen them add quality, but they've done so at the expense of adding the necessary depth to close the gap on Arsenal and Manchester City at the top of the table.
In isolation, there is much to admire about all four of their summer signings. Barcola is the obvious standout, but fellow forward Víctor Muñoz has already impressed in his first few outings in a Liverpool shirt, coming off the bench to win a late penalty against Newcastle United before scoring a stunning equalizer in last weekend's 2-2 draw with Nottingham Forest. In a window where Premier League clubs have dispensed with vastly inflated fees for attacking players, signing the Spain international for just €40 million from Osasuna could prove very shrewd.
Similarly, the €70 million fee paid to Rennes for center back Jérémy Jacquet already looks to be a smart investment, with the promising youngster having made a fine start to his Anfield career. The addition of Barcelona captain Ronald Araújo on a seasonlong loan also represents a relatively low-risk move on Liverpool's part, providing short-term cover in defensive areas.
Inclusive of add-ons, Liverpool's £218 million net spend is the highest of any club in the Premier League. While this undermines the accusations of lacking ambition levelled by some quarters at owners Fenway Sports Group (FSG), there is an argument that those funds should have been spread more equitably across the pitch.
Liverpool's last senior midfield signing was Ryan Gravenberch in September 2023 -- the same summer the Reds' pursuit of Chelsea-bound Moisés Caicedo and Romeo Lavia proved unsuccessful. While Iraola does not operate with a traditional deep-lying No. 6, the concerning manner in which Liverpool have been repeatedly carved open in their first two games of the season supports fans' clamor for a more defensive-minded presence in the middle of the park.
The emergence of academy star Trey Nyoni -- who joined from Leicester City in 2023 -- is expected to help fill the void left by Jones' €35 million departure to Inter Milan. However, considering the 19-year-old played just 21 minutes in the Premier League last term, there may have to be an element of patience required as he adjusts to the mental and physical demands of top-flight football.
The fact also remains that Liverpool do not have a match-fit specialist right back in the squad, as evidenced by midfielder Dominik Szoboszlai's cameo there against Forest at the weekend. So far, Jeremie Frimpong has failed to impress as part of a four-man back line, while first-choice Conor Bradley's minutes will need to be carefully managed when he eventually returns from the serious knee injury he suffered in January.
With center back Giovanni Leoni and striker Hugo Ekitike also expected back over the coming months following their long-term injuries, Liverpool have opted against spending egregiously on short-term solutions. While that makes sense from a business perspective, it also means they risk sacrificing another season of genuinely competing for the game's top honors.
There is also a sense that Liverpool's summer business has been hampered by their inability to command significant transfer fees for outgoing players, which is perhaps a legacy of poor squad planning. For example, the fact that a Premier League-winning center back in Konaté has left on a free transfer to Real Madrid in the same summer that Chelsea and Tottenham Hotspur paid upward of £50 million to bring in Maxence Lacroix and Jan Paul van Hecke respectively is a huge failing.
Cody Gakpo was one of the few players who could have helped balance the books this summer, with Manchester City interested in striking an £80 million deal for the forward. However, Liverpool ultimately -- and sensibly -- decided against sanctioning the deal after failing to find a suitable replacement.
All of this, of course, comes against the backdrop of enormous change behind the scenes.
The optics of sporting director Richard Hughes being continuously linked with a move to Saudi Pro League side Al Hilal have stoked the flames of discontent within the fanbase. The departure of Michael Edwards as FSG's CEO of Football in July has contributed to the perceptions of Liverpool as a club in flux, while FSG's decision to sell a significant minority stake in the club to the 1892 Holdings Consortium (which includes Amazon founder Jeff Bezos) has also led to question marks over who is managing the long-term strategy at Anfield.
On more than one occasion this summer, Iraola has spoken of his excitement for the end of the transfer window, when he could finally see the "big picture" of his squad. Now the window is closed, he could be forgiven for being disappointed with the final outcome.
