Liverpool freed up £500,000 by releasing 11 players prior to £60 million Dominik Szoboszlai deal

Liverpool have freed up nearly £500,000 in wages by releasing 11 players on June 30.

The Reds are preparing for life in the Europa League next season after a fifth place finish in the Premier League but have already moved swiftly when it comes to reinforcements.

The Anfield club have spent £95 million on midfield additions Alexis Mac Allister and Dominik Szoboszlai from Brighton and RB Leipzig respectively.

Both have signed five-year contracts as part of a major reshuffle at Liverpool, which includes quite the clear-out in midfield.

Naby Keita, James Milner and Alex Oxlade-Chamberlain have all left after their contracts expired - while Roberto Firmino has called time on his Liverpool career and looks set to join Saudi Pro League side Al Ahli.

As well as the first-teamers, youngsters Jack Bearne, Liam Hughes, Charlie Hayes-Green, Oscar Kelly, Fidel O'Rourke, Oludare Olufunwa and Iwan Roberts have also been released.

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And as per the Daily Star, using information from Spotrac, Liverpool have made around £500,000 available through the slew of departures.

Firmino was said to be earning £180,000-a-week, with Keita and Alex Oxlade-Chamberlain collecting £120,000-a-week.

And with Milner, now a Brighton player, reportedly being on reduced terms of £60,000-a-week - it means Liverpool have saved nearly half a million pounds.

According to Football Insider, Szoboszlai will be one of the club's top earners on more than £150,000-a-week with bonuses factored in.

Image: Getty

However, Mo Salah is still the club's highest-paid player by some distance on around £350,000-a-week basic pay.

Szoboszlai takes the iconic No.8 shirt previously worn by Steven Gerrard and becomes the fourth Hungarian player to play for Liverpool.

Although there had been talk of Liverpool having a shoestring budget this summer, they are now turning their attentions to Nice and France midfielder Kephren Thuram, who could cost around £60 million.