Could Liverpool’s January transfer window cost them a Champions League place?

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Liverpool are taking a huge risk in January as they have once again shown reluctance to strengthen their squad, despite the rest of the top six making significant moves. It can be argued that the Reds will be ending the month with a weaker squad than they started it with and considering their drop-off in form recently, that is a huge reason for concern. Although they still have a very talented squad, the past month has left the supporters feeling deflated and they could come to regret their business or lack thereof.

The window started well for the club as they finally clinched the signing of Dutch international Virgil van Dijk. The centre-back has been a priority target for the club since the summer, but their approach for him caused problems, as Southampton reported them for misconduct. That caused the transfer to stall and the Reds had to pay a significant amount more to land him in January. The fee was reported at £75 million, which is a world record fee for the defender. Despite the money involved, it is generally agreed that he represents a huge upgrade on their current options. Jurgen Klopp’s men have had defensive issues since he took over at the club and this was seen as a positive move to remedy them.

However, after the signing of Van Dijk, the window took a turn for the worse and the club have refused to sign any more players to replace those leaving. Philippe Coutinho was the first player to depart, as he joined Barcelona in a deal that was worth an eye-watering £142 million. Los Cules wanted to make a statement after losing Neymar during the summer and Liverpool were the club to suffer from that. Supporters were upset that the board allowed one of their best players to leave mid-season, but it was an offer that was too good to turn down.

The sale of Coutinho wasn’t a disaster as a stand-alone event. The Brazilian was far from the most important player in the side, despite being the most talented. That showed in the immediate aftermath as the club beat local rivals Everton before becoming the first team to beat Manchester City in the Premier League this season. The Reds played some excellent football and they looked ready to push on to better things.

It was an excellent occasion for supporters, but the club’s win over Manchester City may have had a negative impact on the thinking behind recruitment. They looked a team capable of challenging for major honours and that may have caused the board to be cautious in the transfer window. January is famously a tough month to do business. In the past, the top-six have been reluctant to spend big money in the window as there isn’t a lot of value for money. Clubs are less willing to sell their key players and that means huge money is needed.

Although it is a difficult market to operate in, the nature of the Premier League is changing, and Liverpool need to react to that. No team is guaranteed Champions League football on a yearly basis, as there are six very good teams playing England and that means an injection of quality mid-season will be needed most seasons, even if only to provide positivity to the fan-base.

The rest of the top-six have realised that. Manchester United have signed Alexis Sanchez. Arsenal are close to bringing Pierre-Emerick Aubameyang to North London, while Chelsea, Tottenham and Manchester City will all finish the month in a stronger position. That won’t be the case at Anfield, as Liverpool’s month has got worse and worse since the Manchester City victory.

They have refused to sign anyone to replace Philippe Coutinho, which puts huge pressure on Adam Lallana and Alex Oxlade-Chamberlain. Both are talented players, but they haven’t shown the consistency to suggest they can be first-team regulars for a Champions League team. It is a huge risk to rely on them to step in for the Brazilian considering their place in next season’s Champions League is far from guaranteed. They have been linked with Riyad Mahrez and Thomas Lemar this month. Although neither are as good as the midfielder that left for Barcelona, they would have provided some positivity.

The sting in the tale came when the club agreed to loan out Daniel Sturridge to West Brom. The England international has featured in only nine Premier League matches this season, but he is a fan favourite and has the ability to contribute if the team needed it. Liverpool have agreed to let two proven attacking players leave without a single player arriving in the forward positions. Not only with Lallana and Oxlade-Chamberlain need to perform, but Danny Ings and Dominic Solanke will be expected to contribute in the final third. Neither have proven that they can do that since arriving at Anfield.

There will be some Liverpool fans hoping that the club surprises them on deadline day with a signing or two, but that seems unlikely given recent history. The current board seem to lack proactivity in the transfer market and they will likely see there being more value in the summer. If they do end the window without an attacking player joining the club, it will be a huge risk. There is no doubting the current front three, but the depth beneath that is worrying. If the Reds suffer two or three injuries to key players, they will struggle to finish in the top four.