Liverpool rank in top five for highest wage bills in Europe

Liverpool had the fifth-highest wage bill in Europe in 2023, as revealed by a UEFA report.

How much money the club is able to spend to bring in players is a source of constant debate among fans.

The Reds' FSG owners' reluctance to divert from a meticulous adherence to budget is either limiting the club's success for their own financial gain, or shrewd and sensible planning depending on your point of view.

However, in terms of wages, at least, Liverpool do actually rank alongside the biggest spenders on the continent.

According to UEFA's European Club Finance and Investment Landscape report, the Reds placed fifth in Europe for money spent on wages in 2023 at €429m (£376m).

Interestingly, that makes Liverpool the second highest wage spenders of any English club, behind only Manchester City, who are third overall with €554m (£474m).

Paris Saint-Germain rank second at €617m (£528m), while Barcelona — despite their much publicised financial turmoil — top the list with a whopping €639m (£547m).

Perhaps unsurprisingly, ten of the top 20 clubs are from the Premier League, with Everton coming in at 19th.

Top 10 wage bills in Europe 2023

1	Barcelona	€639m
2	Paris Saint-Germain	€617m
3	Manchester City	€554m
4	Real Madrid	€453m
5	Liverpool	€429m
6	Bayern Munich	€416m
7	Chelsea	€397m
8	Manchester United	€381m
9	Tottenham Hotspur	€289m
10	Juventus	€283m

In terms of wage to revenue ratio (the most common referenced metric for wage affordability), Liverpool rank comparatively well against their rivals. The Reds spent 63% of their revenue on wages in 2023 — considerably less than the likes of City (66%), Chelsea (70%), Aston Villa (92%) and Everton (90%).

The report also shows the overall transfer cost of each squad, with Liverpool ranking sixth out of all teams.

The Reds spent a reported €905m (£775m) on their squad, with only PSG, Real Madrid, Chelsea, City and United shelling out more on their players.

Interestingly, United's squad cost of €1.4bn (£1.2bn) in transfer fees makes their squad officially the all-time most expensive in football history — a point of some note considering their recent struggles.

Liverpool's rivals finished last season trophyless and ended the calendar year out of the Champions League and outside the top four, while current most expensive player Antony is yet to contribute a goal or assist this season.