Liverpool's strategy for the January transfer window could be set for a dramatic reassessment, with the future of star forward Mohamed Salah emerging as a pivotal factor. Speculation is mounting that the Egyptian icon could be bound for the Anfield exit this month, a move that would present owner John W Henry and Fenway Sports Group with both a challenge and a significant financial opportunity.
The Financial Crossroads at Anfield
Despite the colossal personal net worth of principal owner John W Henry, estimated by Forbes at around £4.2 billion, the club's spending power is constrained by the Premier League's strict Profit and Sustainability Rules (PSR). However, financial expert Kieran Maguire has provided a clear analysis of Liverpool's position, suggesting the club has the capacity to spend.
"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," Maguire stated. "So that's given them the capacity to spend." He explained that the cost of a new signing is amortised, meaning a £50 million January acquisition would only count as £5 million against this season's accounts.
The Salah Equation: Pure Profit and Wage Freedom
The potential departure of Mohamed Salah, who was dropped by manager Arne Slot before leaving for the Africa Cup of Nations, could be the key to unlocking substantial funds. With 18 months remaining on his contract, a sale would represent almost pure profit for the club's accounts.
"Well, his wages are probably going to be something like £15 million a year. So, if he left he would free up the wage budget," Maguire 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."
Maguire suggested the Saudi Pro League, keen to find a new global superstar, could be a likely destination. "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," he said, noting the league's desire to eventually replace Cristiano Ronaldo as its focal point.
Funding a Winter Revival
This potential windfall could allow Liverpool to address squad weaknesses and push for a crucial top-five finish. The club's summer spending of just over £400 million was partially offset by £190 million in player sales, leaving room for further manoeuvring.
A move for a defender like Crystal Palace's Marc Guehi, which collapsed on deadline day last summer, could be revisited. When asked about replacing Salah in the same window, Maguire highlighted two key issues: "One, do you have the cash? And two, can you do it from a PSR point of view?"
He concluded: "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." For John W Henry, the decision on Salah's future this January could define the second half of Liverpool's season.
