Liverpool's Premier League squad cost almost £300million less to assemble in comparison with title rivals Manchester City.
Jurgen Klopp's side have faced criticism this summer for their lack of signings, with Ibrahima Konate the only player through the door in the transfer window.
By contrast, the Reds' closest competitors have splashed out on some big names such as Jack Grealish and Raphael Varane.
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Arsenal, Manchester City, Manchester United and Chelsea each spent £95millon or more in the window as they each took the opportunity to strengthen their squads.
While big spending does not always guarantee success, Liverpool's rivals will now be under pressure to deliver after paying premium prices to improve chances of securing silverware.
Guardiola has now spent £829.5m putting his City squad together, the highest figure of any manager in the division.
The Sky Blues are followed closely behind by local rivals United, whose total stands at £778.7m.
There is then a significant drop-off in spending of over £100m between the Red Devils and the side who rank third for spending, Chelsea (£654m).
Liverpool have paid £532.5m for their entire squad, with Virgil van Dijk and Alisson Becker representing the biggest outlays by FSG in recent times.
Arsenal are next in line at £522.3m, while Everton (£389.8m) and Tottenham Hotspur (£365.4m) rank in sixth and seventh place respectively for spending figures.
Full cost of each squad in the Premier League
1. Manchester City: £829.5m
2. Manchester United: £778.7m
3. Chelsea: £654.0m
4. Liverpool: £532.5m
5. Arsenal: £522.3m
6. Everton: £389.8m
7. Tottenham Hotspur: £365.4m
8. Leicester City: £331.8m
9. Aston Villa: £271.6m
10. Wolverhampton Wanderers: £254.3m
11. West Ham United: £232.7m
12. Newcastle United: £215.1m
13. Southampton: £176.0m
14. Brighton & Hove Albion: £156.5m
15. Crystal Palace: £155.7m
16. Leeds United: £155.2m
17. Burnley: £93.6m
18. Watford: £73.2m
19. Brentford: £69.5m
20. Norwich City: £58.8m
