Liverpool have already spent over £260m on new players in the transfer window and continue to be linked with Alexander Isak, but chief executive Billy Hogan says their spending spree is "years in the making".

Liverpool only made one signing ahead of Arne Slot's first campaign at the helm, acquiring Federico Chiesa from Juventus for £10m (€12m), with the Italian only making one Premier League start.

Despite their lack of business, the Reds stormed to their 20th top-flight title, and they have looked to consolidate their position ahead of 2025-26.

Florian Wirtz (£116m), Hugo Ekitike (£79m), Milos Kerkez (£40m) and Jeremie Frimpong (£30m) have all arrived, with a pre-arranged £29m swoop for Giorgi Mamardashvili also becoming official.

Liverpool's spending may not be over, either, with Isak being tipped to move to Anfield after reportedly informing Newcastle United of his desire to leave. 

However, Hogan says Liverpool's prudent spending in previous seasons has given them the ability to invest heavily this year.

"It doesn't just happen; it's been years in the making," Hogan said of Liverpool's summer spending in an interview with The Athletic.

"One of the things we're constantly focused on is that 'virtuous circle'... Trying to run the club in the right way to ensure that we can generate as much revenue as we possibly can. 

"That obviously helps in terms of being able to put more back into the team. 

Here he is  pic.twitter.com/TMaUt73AG8

— Liverpool FC (@LFC) July 24, 2025

"The difficulty is if you just look at one individual summer. That probably skews the data. There were a lot of comments made last summer that we didn't spend enough.

"We also recognise, having won the English league title for the 20th time, that this is one of the biggest clubs in the world. We want to make sure that we are behaving like one.

"Having massive global stars come and play at Anfield, filling out stadiums in Hong Kong and Japan, those are things we expect and want to do."

Liverpool lost Trent Alexander-Arnold to Real Madrid on a free transfer and have also raised around £50m from the sales of Jarell Quansah, Caoimhin Kelleher and Nat Phillips.

The Reds could also sanction the departures of Luis Diaz, who reportedly wants to join Bayern Munich, and Darwin Nunez, who has been linked with Napoli.

Liverpool have the highest total spend of any Premier League club so far this off-season, just ahead of Chelsea, who have splashed out £211m.