Liverpool definitely have the means of signing Germany forward Timo Werner this summer despite the economic uncertainty caused by the coronavirus, according to a football finance expert.

Kieran Maguire of the University of Liverpool says that the Reds are in a very healthy financial position heading into the summer compared to the vast majority of other clubs.

Liverpool’s latest financial results, which did not include the bonuses earned from winning the Champions League last June, showed a pre-tax profit of £42million.

And Maguire says that will be vital to allowing Jurgen Klopp to invest when the transfer market reopens at the end of the season.

On a football finance special podcast on the Blood Red channel, he said: "Liverpool’s business model is an intriguing one.

"Historically when they have generated extra income, that has flowed straight into Jurgen Klopp’s budget over the last few years. That money has been well-spent.

"In terms of costs [of signing someone like Werner], most deals these days are spread over a series of years, so although it’s £52million, if it’s spread over four installments, Liverpool would be able to afford that with relative ease.

"I don’t see a problem in terms of the financing in recruitment."

However, while Maguire says that Liverpool can comfortably make transfer moves this year, there might be something else stopping them from doing so.

He said: "It might be a huge own-goal socially if football clubs furlough staff and then are seen to spend large sums - the public reaction would be very negative.

"And on an individual level, do you want to be spending £70-80 on a brand-new version of their kit when your peers are being furloughed?

"It could be that conspicuous consumption of any form, either at club level or individual, actually becomes socially unacceptable.

"If the new striker scores six goals in his first four games, then everything is forgotten, because fans are that way.

"But if he turns out to be a dud, then I think the voicing will be even louder than in normal circumstances.

"Football has got to tread very delicately because we do expect a higher degree of moral and ethical code from football clubs than any other line of business that we come into contact with.

"Spending with a complete disregard for the biggest global crisis since World War Two would be very insensitive."

The transfer market is going to look very different for the vast majority of clubs this summer, with many lower down the football pyramid fighting simply for their survival.

That will mean clubs seeking out free transfers and loan deals where possible, while swap deals could become more popular as teams look to save money.

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Maguire concluded: "If we are dealing with a scenario where you have two of the elite clubs in Europe, and they both have strong balance sheets, then the selling club can resist initial offers and the buying club has the resources to make a big offer.

"So we could see one or two surprises but the non-big six clubs will either use the loan market or pick up bargains from the rest of Europe or the Championship."

Liverpool will not take any financial risks in the transfer market, with the Reds far from desperate to add to their ranks having built up a 25-point lead at the summit of the Premier League.

But it appears that Werner is a player they like a lot and would consider moving for if the timing and circumstances are right.