Jurgen Klopp went all out in the summer in search of silverware for the 2018/19 campaign.
By the end of last season it looked as if Liverpool were one of the best teams in the world.
But Klopp still felt the need to strengthen – and he did not hold back in the transfer market.
Having already sealed a move for Naby Keita, the German manager then completed the signings of Xherdan Shaqiri, Fabinho and Alisson in deals totalling £110 million.
Eyebrows were raised over the amount of money that Liverpool spent on the three players.
The signing of Alisson, especially, drew a lot of attention.
Liverpool decided to spend £56.25m on the Roma stopper, which was then a world record fee paid for a goalkeeper.
But did Liverpool really pay over the odds for him?
The CIES Football Observatory have released a report of the best and worst signings of the summer from an economic perspective.
Using an exclusive algorithm, they have calculated what players should have been worth upon signing.
They then rank the best signings of the summer from the top five leagues based on how much a club underpaid for a player.
And it reads very well for Liverpool fans.
According to the report, Fabinho was the fourth best signing of the summer.
CIES have calculated that he was worth €73.8 million, meaning Liverpool paid €18.8 million less than the ‘fair price’ for the Brazilian midfielder.
And Liverpool’s deals for Shaqiri and Alisson were both positive.
The Swiss international was the 12th best signing of the summer, with Liverpool paying Stoke €7.5 million less than they should have done for his services.
And they also paid €6.8 million less than they should have done for Alisson, making him the 13th best signing of the summer.
It seems Liverpool had an even better transfer window than people think.
View the 15 best summer signings according to CIES below:
CIES also calculated the worst summer signings of the summer – and it again looks good for Liverpool.
Southampton paid €14.8 million over the odds for Danny Ings, while Leicester City paid Liverpool €9.2 million more than they should have done for Danny Ward.
View the 15 worst summer signings according to CIES below:
It really was a very good summer transfer window for Liverpool.