Liverpool let eight players go in January, either on loan or on permanent deals. But all were fringe or youth team figures, with Arne Slot electing to keep the core of his squad the same — including Darwin Nunez, despite some transfer interest.
It's a make or break season for Nunez at Anfield, and if the season ended now, then the verdict may well be "break". Now two and a half years in, he has yet to genuinely kick on, and in fact has looked less involved in matches under Slot than he did under Jurgen Klopp.
Yet he has still had his moments, most recently off the bench against Brentford to seal a vital three points in the race for the Premier League title. And the fact remains that he is certainly a luxury option for Slot to effectively have in reserve.
READ MORE: Full list of Liverpool transfers in January 2025 as 7 players leave
READ MORE: Carabao Cup transfer rules after Tottenham completes deal before Liverpool second leg
With that in mind, Liverpool did not entertain any January transfer interest, opting not to risk any disruption to a unit that is still well-positioned for as many as four trophies. According to The Athletic, an inquiry about Nunez was shut down quickly.
An intermediary for the Saudi Pro League is said to have got in touch with Liverpool about a possible deal for the enigmatic striker. But the Reds did not even get as far as negotiating, responding with a simple "not for sale" stance.
That's potentially surprising, especially as Anfield Watch claims the potential deal was worth $87m (£70m/€84m). The way things have panned out with his move to England, a deal that allowed Liverpool to effectively make its money back would be good business on paper.
And the Reds are not exactly committing to Nunez either, despite their firm January stance. The Athletic says that his long-term future remains uncertain.
But in a strange kind of way, that makes Liverpool's January decision all the more admirable. While fans would have liked to see FSG back Slot with transfer activity, the Nunez call showed in its own way that it is not (all) about the money.
The decision was taken that keeping him at the club could help in the pursuit of glory on the pitch. Liverpool thus chose that path, despite the risk of a far less lucrative offer being on the table come the summer.
Of course, success on the pitch comes with plenty of associated financial perks, and Liverpool ultimately becomes a more appealing "brand" (I feel dirty just saying it) the more that it wins. So there's no need to go overboard with praise.
But keeping Nunez for the remainder of the season is a commitment to Slot, if not to the striker. He will be given every chance to see out what he has started this season, with a squad that looks like it might be deep enough to go the distance.