Liverpool have surged to the top of the Premier League spending charts after sealing a deal for Hugo Ekitike, pushing their summer outlay close to £300m.
Liverpool have finalised a €91.5 million (£79m) deal with Eintracht Frankfurt for striker Hugo Ekitike.
The move comes after Newcastle rebuffed Liverpool's interest in Alexander Isak. Hugo Ekitike is scheduled to arrive in the UK on Tuesday for a medical and to finalise a six-year contract.
Liverpool retained staff in the UK to expedite the signing, hoping Hugo Ekitike can join the team's pre-season tour in Asia later this week.
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Similar to the Florian Wirtz transfer, the majority of Ekitike's bonuses are linked to Liverpool's trophy success and his contributions. While challenging to achieve, Liverpool would gladly pay them if earned.
Liverpool's pursuit of Hugo Ekitike intensified this week after Newcastle declared Isak unavailable. Ekitike favoured a Premier League move, with Liverpool his preferred destination, after Newcastle had a bid rejected.
The 23-year-old was an unused substitute in Frankfurt's pre-season match against FSV Frankfurt on Saturday. Following the game, Frankfurt's manager, quoted by Sky Germany, described Ekitike's potential departure as "a bitter loss."
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Hugo Ekitike netted 22 goals in 48 appearances across all competitions last season, helping Frankfurt secure Champions League qualification.
Liverpool's Spending Spree Tops Premier League
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With the Hugo Ekitike acquisition, Liverpool's summer spending nears £300m, making them the league's biggest spenders.
Their £295.5m outlay surpasses Chelsea's by over £75m and exceeds the combined spending of Manchester City and Arsenal.
However, financial records, as quoted by Sky Sports suggest they could potentially lose another £200m this summer and still comply with Profit & Sustainability Rules (PSR), which permit clubs a £105m loss over three years.
Football finance expert Swiss Ramble notes Liverpool's recent financial results show a £48m profit within the current PSR period, partly due to previous modest transfer spending. This leaves them with a further £158m leeway.
While Liverpool has spent around £185m on new players this window, including up to £116m for Florian Wirtz, they posted record revenue of £613.8m for the 2023-24 season, boosted by commercial success.
This figure is expected to rise in the 2024-25 accounts due to Champions League participation and Premier League title win.
The £35m sale of academy product Jarell Quansah to Bayer Leverkusen represents pure profit under PSR rules. Further sales, including potentially Darwin Nunez, Harvey Elliott, and Luiz Diaz (though a Diaz exit is less likely despite Bayern Munich's interest), could boost revenue.