Liverpool could reassess their January transfer plans amid speculation around Mohamed Salah's future, with owner John W Henry facing a key juncture in his tenure
It's rare for Liverpool to face pressure to strengthen during recent January transfer windows. Yet a disappointing opening half of the season has left club owner John W Henry in a tricky spot concerning their winter strategy.
The Fenway Sports Group chief has a colossal net worth of approximately £4.2billion, according to Forbes. But the Premier League's Profit and Sustainability Rules (PSR) mean splashing cash isn't quite as simple as having deep pockets.
Mohamed Salah's thorny predicament at Anfield represents one potential revenue stream that could assist the club following his outburst before departing for the Africa Cup of Nations. Financial expert Kieran Maguire has explained how the club could take the initiative this month, plus what role Salah might play in funding additional acquisitions.
"Liverpool have got the benefit of, yes, they had a spectacular summer of 2025, but if you take a look at their losses in the two previous years, they were never in danger of breaching PSR," he said. "So that's given them the capacity to spend. And remember, if you sign a player, the cost of the signing is spread over the contract. It's spread over five years for example.
"So if you sign a £50million player in January, six months of that will go into your account. So it's going to cost you £5m. Now £5m, you get £3.5m per place in the Premier League.
"The important thing, again from Liverpool's point of view - and they seem to have turned the corner in terms of what's happening on the pitch - is to finish in the top five positions and get that participation."
Maguire recognised a summer of substantial investment that saw Liverpool splurge a little more than £400m on fresh recruits. That expenditure was partially balanced as the club generated approximately £190m through player departures.
Marc Guehi was thought to be heading to Anfield from Crystal Palace before that transfer collapsed on deadline day. Maguire reckons that switch remains very much a possibility this month, where Salah's potential departure could unlock a considerable amount of financial flexibility.
"Well, his wages are probably going to be something like £15m a year. So, if he left he would free up the wage budget," he added. "On top of that, because he's been there so long, effectively any money that they get is pure profit. And that goes into your top line."
He went on: "He's got 18 months remaining in his contract. So, there's no reason why they couldn't get £60m or £70m from a club in the Saudi Pro League, even for a player of his age.
"I think the Saudi Pro League is very conscious that it needs, at some point in time, to replace Cristiano Ronaldo as sort of the focal point of the league. And Mohamed Salah would achieve that on a number of levels."
Should Salah depart, it would leave a notable gap in Liverpool's attacking line-up. Admittedly, the Egyptian has struggled for form this campaign and found himself dropped by Arne Slot before his AFCON departure, but he would still require a replacement.
Henry might well embrace Saudi interest this month if it meant securing an inflated fee to offload an ageing Salah given this season's performances. And it could be the sole route through which Liverpool would be capable of spending substantially this winter.
When questioned about the prospect of Liverpool finding a Salah replacement in the same window, Maguire commented: "There's always two issues. One, do you have the cash? And two, can you do it from a PSR point of view?
"From a PSR point of view, they've got no trouble. From a cash point of view, deals are normally spread over three to four years. If they felt that was the difference between qualifying and not qualifying for the Champions League, then it's a no-brainer. You go for it."