Liverpool boss Arne Slot has dismissed suggestions his team should be regarded Premier League title favourites due to their summer spendingLiverpool head coach Arne SlotLiverpool head coach Arne Slot(Image: Simon Stacpoole/Offside/Offside via Getty Images)

Arne Slot has embraced Liverpool being regarded as Premier League favourites – but not on the basis of their summer spending. The Reds have been installed as the team to beat by bookmakers after romping to a record-equalling 20th championship last season.

Having largely retained the squad Slot inherited from predecessor Jurgen Klopp ahead of last term, Liverpool have embarked on an extensive overhaul this transfer window with almost £300million worth of arrivals.

That, though, has been offset by a number of key sales, with the imminent exit of Darwin Nunez to Saudi Pro League side Al-Hilal for £46m meaning a net spend of just over £100m this summer.

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While such a figure would be equivalent to wheeler-dealers Chelsea, it is dwarfed by the net spends of both Arsenal (£195m) and Manchester City (£150m), while Manchester United’s expected deal for RB Leipzig forward Benjamin Sesko will see their figure rocket up to almost £160m.

And Slot, whose side face FA Cup winners Crystal Palace in the Community Shield at Wembley on Sunday, is comfortable with Liverpool being regarded as favourites to retain their title – for the right reasons.

“If you won it last season it’s quite normal that you are part of the favourites again for next season,” said the Reds boss.

“For me it would not be normal if it’s about spending, because the net spend of us compared to the other teams is not in our favour, if you look at the last two seasons.

“But it’s completely normal that we are one of the favourites, because we won it last season. And we brought in good players, like all the other ones did, by the way.”

Slot added: “This is the Premier League, this is what makes this league so nice. I think there’s only been one exception in the last two, three, four, five, six years, and that’s been Liverpool last season.

“Because every team in the Premier League, Sunderland, is spending money as if they… they have a lot of money, of course, because they’re promoted.

“If we are only favourites because we’ve spent a bit, I would see that as weird, because we’ve lost a lot as well. But that we are favourites because we won it last season and we played so well, that’s clear. And the ambitions haven’t changed, because the ambition of this club is always to compete for every trophy.”

Liverpool are likely to continue their spending before the September 1 deadline. They had a £110m bid for Newcastle United striker Alexander Isak rejected last week but retain a strong interest in the player, and are also considering a new centre-back, with Palace skipper Marc Guehi among those shortlisted.

But while Slot is content with his forward options for now, the Reds boss has pointed to a clear shortcoming from his team during the pre-season programme.

“This pre-season has shown until now that we’re able to score a lot of goals,” he said. “What we need to improve is to concede less, so not only conceding goals but also chances. Our attacking part has been good to very good in pre-season, but one of our strengths (last season) was also that we hardly gave away a chance, let alone a goal.

“So the main focus for me is on that part, because if you look at the Bilbao game, it was at half-time 1-1. That was not fair, we should have been up by two or three goals, in my opinion. I am really happy and pleased with the attacking players I have at the moment.”

Virgil van Dijk and Alisson Becker, who missed the friendly double-header against Athletic Bilbao on Monday, are both expected to be available on Sunday. Conor Bradley is a doubt while Joe Gomez is likely to remain absent with an Achilles problem.