Richard Hughes' £75m mistake could have cost Liverpool their season

Liverpool’s 2025-26 campaign has been pock-marked by scrutiny from the opening weekend, but the root of their struggles may trace back to a single summer miscalculation. Sporting director Richard Hughes sanctioned a club-record £125 million swoop for Alexander Isak, only to watch the Sweden striker struggle for fitness and form while a cheaper, more prolific alternative has flourished elsewhere.

Isak’s arrival at Anfield was meant to turbo-charge Arne Slot’s attack. Partnered with Mohamed Salah, the 25-year-old was billed as the final piece in a title-chasing jigsaw. Instead, he has started sparingly, outshone by Hugo Ekitike, who has seized the centre-forward role with 22 goal involvements in all competitions. Isak’s limited minutes have yielded little return, leaving supporters to question whether the outlay—£50 million more than Chelsea paid for Joao Pedro—has paralysed the club’s wage structure and transfer planning.

Joao Pedro, courted by most of the division’s heavyweights last summer, slipped off Liverpool’s radar when Chelsea met his £50 million release clause. The valuation was widely viewed as steep; in hindsight, it looks a bargain. Operating as the Blues’ central striker, the 24-year-old has contributed 26 goals across all competitions, outscoring Cody Gakpo—Liverpool’s de facto left-sided forward—by more than double. Gakpo’s paltry dozen strikes have been compounded by inconsistent displays, yet a lack of depth has forced Slot to start the Dutchman in virtually every match.