Dissecting Liverpool's Champions League Squad: When Iraola Bets on the Future and Overlooks Depth

Last Thursday night, when UEFA published Liverpool's 25-man squad list for the Champions League group stage, I opened my data file and began coding each position. In the first minute, I saw the names Federico Chiesa and Wataru Endo crossed out. Not because of long-term injuries, not because of suspensions, but a deliberate decision from the new coaching staff. I paused there, took a sip of cold coffee, and thought: this is not a list, this is a tactical manifesto.

The context of this decision lies in the power transition on the Anfield coaching bench. Andoni Iraola, who succeeded Arne Slot after a season in which Liverpool reached the Champions League quarter-finals, is building the squad in his own image. Over the summer, the club spent up to £123 million to bring Bradley Barcola from PSG, a figure large enough to reshape the financial structure of an entire transfer window. But what caught my attention was not the money, but how Iraola used the registration list to signal his operational philosophy.

Look at the structure of the list I analysed. Víctor Muñoz, a summer signing, was registered while Chiesa, a winger who has proven his class in Serie A and the Premier League, was left out. Wataru Endo, who made 8 Premier League appearances last season mostly from the bench, was not included. Meanwhile, Hugo Ekitike and Giovanni Leoni, both currently injured, were registered. This tells me something clear: Iraola is prioritising long-term value and future availability over immediate match readiness. This is a common strategic approach in European squad registration, but it comes with a cost in squad depth.

Lindop, a pundit I follow regularly, said bluntly: "Liverpool needed to add depth in the transfer window. They didn't get it." This statement is not an emotional criticism but a structural truth. With 8 Champions League group-stage matches plus a congested Premier League schedule, Liverpool will have to rely on a smaller core group. This increases the risk of fatigue accumulation and injuries. I have seen this scenario many times in my career following football: a team with excellent starting quality but lacking depth collapses in March, when the most important matches take place.

The key point I want to emphasise here is: the exclusion of Endo, a pure defensive midfielder, suggests that Iraola may be planning to use a more progressive, possession-based midfield where Endo's limited passing range is less valued. But this is a gamble. If Liverpool face a high-pressing opponent like Manchester City or Arsenal, they will need someone capable of breaking pressure with safe, short passes. Endo, with his experience and game-reading ability, is exactly that type of player.

Financially, the exclusion of Chiesa and Endo could have significant implications. Both players have market value. If they are not playing, their value will depreciate. This could be a deliberate strategy to force their sale in the January transfer window. I have witnessed this many times: a player excluded from the European squad is almost certainly leaving in January to seek playing time. This frees up wage budget and could generate funds for new signings. But it also means Liverpool will lose two quality options for the remainder of the season.

Barcola's contract, with a fee of up to £123 million, is a significant financial commitment. I do not have data on the contract structure, but with a fee like that, this is almost certainly a long-term deal, 5 years or more. This means the transfer fee will be spread evenly over the years through amortisation. But what matters more is the pressure of expectation. A young player arriving with a record fee must prove his worth immediately. Barcola's immediate registration in the Champions League squad shows the club considers him the most important asset of the season. If he fails to perform to expectations, the pressure from media and fans will be immense.

The Champions League draw was considered favourable for Liverpool. Home matches against Atletico Madrid, Porto, Villarreal and Lens; away matches against LASK, Fenerbahce, Club Brugge and Inter Milan. This is a group of medium to weak opponents, with Inter Milan being the toughest away test. But I do not believe in this favouritism. Diego Simeone's Atletico Madrid is always a difficult opponent, and Inter Milan, with their consistent form in Serie A, will be a real test. If Liverpool are complacent, they could stumble.

Looking at the overall Premier League picture, Liverpool remain among the title contenders alongside Manchester City and Arsenal. But the difference lies in squad depth. Manchester City have a squad with two quality players for each position. Arsenal have also invested heavily in depth. Liverpool, by excluding Chiesa and Endo, are putting themselves at a disadvantage in the long race. This could affect both their Premier League and Champions League ambitions.

In terms of regulations, Liverpool's list complies with UEFA rules on List A with 25 players, including 8 locally trained players. Including Conor Bradley and Giovanni Leoni helps meet this requirement. Chiesa and Endo are not eligible for List B, so their exclusion is a straightforward application of the rules. There is no compliance risk here. But what is interesting is that including injured players like Ekitike and Leoni in the list shows the club is planning for the knockout stages, not just the group stage.

Now, let's talk about the dressing room. The decision to exclude Chiesa and Endo is a clear signal of a power transition. Iraola, a new manager, is establishing his authority by making difficult decisions early on. This could create tension in the dressing room, especially with experienced players like Chiesa. But it also sends a clear message: no one is guaranteed a starting spot, and every decision is based on what is best for the team.

The biggest risk I see here is the lack of depth. If Barcola or Salah suffer injuries, Liverpool will struggle in both competitions. Lindop was right to point this out. Including injured players in the squad is a calculated gamble: they may not be ready for the group stage, but registering them preserves their eligibility for the knockout rounds. This is a long-term strategy, but it may not satisfy fans expecting immediate results.

The media narrative around Liverpool is currently divided. On one hand, the Barcola signing and the favourable draw create optimism. On the other hand, concerns about squad depth, as pointed out by Lindop, create scepticism. This is a fragile expectation environment where the results of the first matches will shape the tone of the entire story. I will closely monitor how Barcola performs in the first matches. If he plays well, all concerns will fade. If not, the pressure will mount on Iraola.

From an industry perspective, the Barcola transfer at £123 million is a significant event. It could influence future transfer negotiations for similar young wingers. The exclusion of Chiesa and Endo could reduce their market value, paving the way for cut-price sales in January. This could benefit other clubs looking for experienced players at a discount.

I want to offer a counter-intuitive perspective here. While most analysts will criticise the lack of depth, I see a strategic logic in Iraola's decision. He is building a team for the future, not just for this season. Including Barcola, Muñoz and other young players in the squad shows he is betting on long-term development. But this could be a double-edged sword. If Liverpool fail to progress from the Champions League group stage, this decision will be seen as a mistake.

I also want to highlight a point that few have noticed: the exclusion of Endo could be a sign that Iraola is planning to use a high-pressing system, where midfielders are required to have the ability to contest and pass quickly. Endo, with his age and limited passing range, does not fit this system. But this is a big gamble. If the high-pressing system does not work effectively, Liverpool will be vulnerable against teams with good passing ability.

Looking at the 8 group-stage fixtures, I see a clear opportunity for Liverpool to rotate the squad and build momentum. But I also see a potential trap: complacency. If Liverpool underestimate opponents like Atletico Madrid or Inter Milan, they could pay the price. I will closely monitor the away match against Inter Milan; this will be the first real test for Iraola's new squad.

The biggest question I pose here is: Does Liverpool have enough depth to compete on both fronts? The answer, based on what I see in this list, is uncertain. But football is not an exact science. Sometimes, a team with excellent starting quality but lacking depth can still win if the core players maintain form and avoid injuries. This brings us to the next question: Will Iraola dare to trust a smaller group of players over a long, gruelling season?

I will end with an observation on data. Last season, Liverpool reached the Champions League quarter-finals. The expectation for this season is to go further, at least to the semi-finals. With a favourable draw, this is entirely possible. But with the lack of depth, the risk is significant. Iraola is betting on quality over quantity. I am not saying he is wrong, but I will be watching very closely to see whether this gamble pays off. Football always has surprises, and that is why we love this sport.