Liverpool are in the middle of a spending spree, though it might not be immediately obvious. Ibrahima Konaté has been the sole arrival in the transfer market this summer, though that could yet change with around three weeks to go until the deadline. But that is far from the full picture. It is by now well-documented that there are a number of high-profile contracts that need to be tied up before 2023: Mohamed Salah, Sadio Mané, Virgil van Dijk, Roberto Firmino, Naby Keïta and Jordan Henderson, plus Alex Oxlade-Chamberlain, Nat Phillips and Rhys Williams. It's still a lengthy list.By 2024, Andy Robertson and Joe Gomez come into the mix, along with Thiago Alcântara, Takumi Minamino and Joël Matip. The amount invested in wages by Liverpool rose from £310m to £325m in their latest accounts, a figure that put the Reds behind only Manchester City in the Premier League when it comes to the money paid out on player salaries (City's wage bill stood at £351m). Read MoreRelated ArticlesRead MoreRelated ArticlesExactly how each club's next accounts look is unclear, but you can have a reasonable guess. Some of the numbers in the last accounts were inflated because contracts at Anfield are heavily incentivised. Liverpool had just won the Champions League and were well on the way to securing the Premier League title, and so more money was paid out in wages to players as a result of that, which will not have happened last season with no silverware taken home.But at the same time, since then, Liverpool have signed Thiago (on around £200,000-per-week) and have had to begin a spending spree when it comes to extending the deals of current stars. Trent Alexander-Arnold, Alisson Becker and Fabinho have all extended their contracts recently, with Alexander-Arnold, in particular, seeing a hefty increase in his salary, and there are many more players who are due for renewals soon (Salah and Van Dijk those who are particularly important), and on improved terms. Since 2015, Liverpool's wage bill has increased by 95 per cent, growing at a far steeper rate than the 64 per cent rise in revenues during the same period, with overall revenue standing at £490m for the latest accounts. While that is not a concern, and is still at a healthy level (crisis club Barcelona, for comparison, even without Lionel Messi, have their wages at a whopping 95 per cent of their revenues), it is still a massive investment to undertake. Read MoreRelated ArticlesRead MoreRelated ArticlesThe alternative to offering new contracts, of course, is that players are unsettled or move on, but extending the contract of Van Dijk, for instance, would be cheaper than selling him and finding an adequate replacement (quite aside from the fact that there isn't one that exists). Liverpool are unlikely to overtake Man City in the wage bill stakes in their next accounts, and by the time the following year's accounts are released, the signings of Jack Grealish and possibly Harry Kane will be factored in, plus lucrative renewals for players like Kevin de Bruyne, despite the offloading of Sergio Agüero. But the fact that Liverpool, at the last count, were spending more on wages than Manchester United raises a fair few eyebrows. FSG are not reckless and Liverpool, aided by the deal that saw RedBird invest in the Reds' ownership group, are in a position to continue as they have been, but considerations must be made. It also helps to explain the departure of Gini Wijnaldum, who was not tied down to an improved deal and was allowed to leave for nothing. Further, it begs the question of what things might have looked like had Liverpool missed out on the Champions League spots last season, a scenario which looked inevitable for much of 2021. Without the £100m or so that the Champions League is worth, there would be significantly more concern over getting new deals on the table for key men. Even before these renewals, Liverpool were some £42m ahead of Manchester United, who sit third in the Premier League's wage bill league table. That gap, if anything, could be set to widen, though Jadon Sancho and Raphaël Varane's arrival will test that theory. Chelsea, who spent £200m or so on new players last summer despite the pandemic, and have splashed another £98m this transfer window on Romelu Lukaku a player they sold seven years ago to Everton for £28m might also come into the equation.But the idea that Liverpool are idly sitting back and letting their rivals get better without reacting is not the case. For a club without unlimited resources, contracts are the savvy way to strengthen and solidify its position. Another transfer or two would not go amiss, but don't be fooled: just because Liverpool haven't spent £100m on one player (and a player, it should be added, whose spot in the first-choice starting XI would be debatable) does not mean they are not spending at all.Read MoreRelated ArticlesRead MoreRelated Articles