Money has long been a theme in meetings of Liverpool against Manchester City . It promised to be once again when the transfer window concluded. This, it seemed, was set to be the first Premier League game to feature five £100m men and both of those who share the British record as the £125m buys. Then, after the independent commission’s verdict on City cast some of their past spending in a different light, came what might be deemed less dramatic news: Alexander Isak is injured.

Not for the first time, either, but not seriously, Andoni Iraola believes. So instead there could be two players on each side who cost nine-figure sums: the Liverpool duo of Florian Wirtz , whose £100m fee could rise to £116m, and Bradley Barcola , who joined for £106m, which could go up to £123m, and the City midfield pair of the £116m Elliot Anderson and the £125m Enzo Fernandez .

City were the biggest spenders in the Premier League in 2026. Liverpool had the summer’s biggest net spend. And yet a point at Anfield, despite expenditure that has amounted to more than £650m over the last three transfer windows, is that their model has always been self-sustaining, that they only pay what they can afford, whether from player sales or broadcast, commercial and matchday revenue.

Liverpool took the decision to prioritise quality over quantity. They could have a bigger squad, but with fewer high-priced players. And so it is that, in the first game since the ruling City had benefited from more than £900m in disguised funding , the striker they face might be a rookie who cost nothing and who is yet to start a Premier League game, in Lewis Koumas.

Or maybe not, with Iraola considering his options. Hugo Ekitike , the £69m alternative to Isak who flourished last season, is also out. Federico Chiesa , who may have been a failed attempt at Moneyball from former sporting director Richard Hughes, is on the comeback trail but has yet to play this season. Iraola is uncomplaining.

“We also have other players who can cover the positions,” he said. “When you coach Liverpool is you still have very good players available. I trust the players we have ready to go.”

Even the most logical makeshift choice is sidelined: Cody Gakpo , in form this season, with a past experience of leading the line, is also injured. That may mean the line is led by one of the £100m recruits, whether Wirtz as a false nine or Barcola, to use his blistering speed further forward. “I think he can cover the three positions up front,” said Iraola. “He’s a super-valuable player for us.”

The counter-argument is that, quick as the France international is, his finishing can be erratic. He is yet to open his Liverpool account. “I said it [after his] first game, against Atletico Madrid, he missed two or three quite clear chances,” said Iraola. “I don’t care. Honestly. I care but I want him to see [him] there.”