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MBW’s Weekly Round-Up: Live Nation’s $646 Million Mexico Deal and Universal Music Group’s $3.38bn Q2 Results

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Welcome to Music Business Worldwide’s weekly round-up – where we make sure you caught the five biggest stories to hit our headlines over the past seven days. MBW’s round-up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximize their income and reduce their touring costs.


This week, Live Nation Entertainment struck a USD $646 million deal to increase its stake in Mexican concert promoter OCESA to 75%, accelerating its Latin American expansion strategy.

Meanwhile, Universal Music Group posted Q2 2025 results with revenues of $3.38 billion, up 4.5% YoY driven by releases from Morgan Wallen, timelesz, and Lady Gaga.

Elsewhere, Spotify revealed its own Q2 earnings results. On a subsequent call, SPOT confirmed that just over 3% of the world’s population now subscribes to the platform, though its execs remained notably cagey about its long-awaited ‘Music Pro’ tier.

Also this week, US-headquartered SESAC Music Group confirmed a raise of $889 million via a whole business securitization, which was three times oversubscribed.

And MBW took a closer look at Primary Wave‘s ambitious new Bob Marley immersive experience in Las Vegas, Hope Road.

Here are some of the biggest headlines from the past few days…


1. LIVE NATION STRIKES $646 MILLION DEAL TO INCREASE STAKE IN MEXICO’S OCESA

Live Nation Entertainment has announced a major $646 million transaction to acquire an additional 24% stake in Mexican concert promoter OCESA, increasing its ownership from 51% to 75%.

The deal, announced on Tuesday (July 29), accelerates a purchase agreement with former OCESA owner CIE, which will retain a 25% stake. It’s expected to close in August.

Combined with Live Nation’s original 51% acquisition in December 2021 for $416 million, the firm’s total investment in OCESA to date exceeds $1 billion. The deal forms part of Live Nation’s broader Latin American expansion strategy, which recently included acquiring Dominican Republic promoter SD Concerts… (MBW)


2. UNIVERSAL MUSIC GROUP GENERATED $3.38BN IN Q2, UP 4.5% YOY – DRIVEN BY MORGAN WALLEN, TIMELESZ, LADY GAGA

Universal Music Group posted second-quarter results this week with total revenues of $3.38 billion, up 4.5% year-over-year at constant currency, driven by growth across its recorded music and publishing divisions. The company’s recorded music subscription streaming revenues grew 8.5% YoY to reach $1.36 billion, while overall recorded music revenue hit $2.52 billion, up 3.9% year-over-year.

Top-selling releases for the quarter included Morgan Wallen, timelesz, Lady Gaga, Sabrina Carpenter, and INI, helping drive UMG’s adjusted EBITDA to $766 million with a margin of 22.7%. The company’s music publishing division performed particularly well, with revenues growing 14.5% YoY to $646.3 million.

UMG Chairman and CEO Sir Lucian Grainge credited the results to “the powerful combination of our artists’ and songwriters’ creative excellence with our strategic vision and execution.” The company declared an interim dividend of $499 million for the first half of 2025, with payment scheduled for October… (MBW)


3. LEARNINGS FROM SPOTIFY’S Q2 2025 EARNINGS CALL… INCLUDING WHAT THE COMPANY (DIDN’T) SAY ABOUT THAT LONG-AWAITED ‘MUSIC PRO’ TIER

Spotify revealed remarkable market dominance statistics during its Q2 earnings call, with the platform now accounting for 65% of global audio music streams and boasting that over 3% of the world’s population subscribes to the service.

SPOT added 8 million premium subscribers in Q2 to reach 276 million, while total monthly active users hit 696 million with the addition of 18 million new users.

Despite the strong user growth, Spotify remained notably evasive when directly questioned about its long-awaited ‘Music Pro’ tier. When asked about introducing a ‘superfan’ tier, Chief Business Officer Alex Norström provided limited details, saying only that the company is “making progress for sure, but it’s taking time”… (MBW)


4. SESAC MUSIC GROUP RAISES $889M VIA WHOLE BUSINESS SECURITIZATION, THREE-TIMES OVERSUBSCRIBED

SESAC Music Group has completed a $889 million whole business securitization, marking the company’s fourth trip to the asset-backed securities market and the largest rated whole business securitization in the music sector to date. The five-year senior notes are backed by substantially all of SESAC’s assets and revenues, including its Performing Rights and Music Services divisions, and received investor demand that was three times oversubscribed.

The Blackstone-majority-owned company’s Performing Rights division represents high-profile songwriters including Ariana Grande, Kurt Cobain, Jack Harlow, Billie Joe Armstrong, and Axl Rose, plus composers behind major TV shows and films. Its Music Services arm provides copyright administration and licensing through subsidiaries like Harry Fox Agency, AudioSalad, and Rumblefish… (MBW)


5. WHY PRIMARY WAVE – AND THE MARLEY ESTATE – COULD BE SITTING ON A GOLDMINE WITH NEW BOB MARLEY SHOW, HOPE ROAD

Primary Wave has launched an ambitious new Bob Marley immersive experience called Hope Road at Las Vegas’s Mandalay Bay Resort & Casino, representing a potentially lucrative new revenue stream for the music rights company and the Marley estate.

Each non-seated show moves approximately 180 guests through themed rooms with live performers, utilizing cutting-edge technology with tickets currently priced between $69-$99, depending on timing.

Currently running five shows per day across five days weekly, Primary Wave CEO Larry Mestel says the operation will soon expand to nine shows daily across three different casts.

Quick calculations suggest the event could generate $30 million in annual gross ticket revenue – and even more when you include merchandise sales… (MBW)


MBW’s Weekly Round-Up is supported by Centtrip, which helps over 500 of the world’s best-selling artists maximise their income and reduce their touring costs.Music Business Worldwide

Trump dismisses official in charge of job data following disappointing employment figures | Latest updates on Donald Trump

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US President Trump alleged that the data had been manipulated to make him look bad.

United States President Donald Trump has removed the head of the agency that produces the monthly jobs figures after a report showed hiring slowed in July and was much weaker in May and June than previously reported.

Trump, in a post on his social media platform on Friday, alleged that the figures were manipulated for political reasons and said that Erika McEntarfer, the director of the Bureau of Labor Statistics (BLS), who was appointed by former President Joe Biden, should be fired. He provided no evidence for the charge.

“I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,” Trump said on Truth Social. “She will be replaced with someone much more competent and qualified.”

Trump later posted: “In my opinion, today’s Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad.”

After his initial post, Labor Secretary Lori Chavez-DeRemer said on X that McEntarfer was no longer leading the bureau and that William Wiatrowski, the deputy commissioner, would serve as the acting director.

“I support the President’s decision to replace Biden’s Commissioner and ensure the American People can trust the important and influential data coming from BLS,” Chavez-DeRemer said.

Friday’s jobs report showed that just 73,000 jobs were added last month and that 258,000 fewer jobs were created in May and June than previously estimated. The report suggested that the economy has sharply weakened during Trump’s tenure, a pattern consistent with a slowdown in economic growth during the first half of the year and an increase in inflation during June that appeared to reflect the price pressures created by the president’s tariffs.

“What does a bad leader do when they get bad news? Shoot the messenger,” Democratic Senate Leader Chuck Schumer of New York said in a Friday speech.

Revisions to hiring data

Trump has sought to attack institutions that rely on objective data for assessing the economy, including the Federal Reserve and, now, the BLS. The actions are part of a broader mission to bring the totality of the executive branch – including independent agencies designed to objectively measure the nation’s wellbeing – under the White House’s control.

McEntarfer was nominated by Biden in 2023 and became the commissioner of the BLS in January 2024. Commissioners typically serve four-year terms, but since they are political appointees, they can be fired. The commissioner is the only political appointee of the agency, which has hundreds of career civil servants.

The Senate confirmed McEntarfer to her post 86-8, with now Vice President JD Vance among the yea votes.

Trump focused much of his ire on the revisions the agency made to previous hiring data. Job gains in May were revised down to just 19,000 from 125,000, and for June they were cut to 14,000 from 147,000. In July, only 73,000 positions were added. The unemployment rate ticked up to a still-low 4.2 percent from 4.1 percent.

“No one can be that wrong? We need accurate Jobs Numbers,” Trump wrote. “She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes.”

The monthly employment report is one of the most closely-watched pieces of government economic data and can cause sharp swings in financial markets. The disappointing figure sent US market indexes about 1.5 percent lower on Friday.

While the jobs numbers are often the subject of political spin, economists and Wall Street investors – with millions of dollars at stake – have always accepted US government economic data as free from political manipulation.

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Michael Phelps and Ryan Lochte share a meme criticizing Team USA’s performance at Worlds

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By Braden Keith on SwimSwam

Two of the biggest names in the history of American swimming have voiced frustration at the performance of Team USA in Singapore this week at the World Championships.

Ryan Lochte, a 12-time Olympic medalist, posted a photograph of a funeral that included a tombstone that reads:

IN LOVING MEMORY OF
UNITED STATES SWIMMING
1980 – 2025
Aged 45

“They set the bar high-until they stopped reaching for it”

He added a caption that said “Call it a funeral, or call it a fresh start. We’ve got 3 years.”

Michael Phelps, the most-decorated Olympian in history with 28 medals, shared that post, adding “Is this the wake up call USA swimming needed? Let’s find out…..”

It’s the most direct public rebuke from arguably the two most mainstream names in American swimming in the last 30 years.

The U.S. performance at the World Championships this week has been marred by “acute gastroenteritis” that has impacted almost the entire team (with the rare exception including the top American swimmer of this generation, Katie Ledecky).

In spite of that, the U.S. moved into the top spot in the medal tables on Friday, both by the traditional gold/silver/bronze sort and the most total medals. The women, which have experienced some of the highest-profile challenges from the GI issues, have managed to medal in every single event so far to carry the load for Team USA. The men, meanwhile, have broken a lot of streaks to the negative, including not having a man make the semi-finals of the 100 back for the first time in a global competition since 1908 and missing a medal in the 800 free relay at Worlds for the first time since 1998.

The men’s 400 medley relay also doesn’t have an obvious path to the podium, and will probably be forced to use some of their top performers in prelims to even have a chance at the final.

The voices of Lochte and Phelps, which almost five million combined Instagram followers, will bring increased pressure and attention to USA Swimming’s challenges this week and over the last few years. While the raw numbers on the medals table haven’t been that bad, those obscure the overall performance coming up shy of expectations for the third straight year.

With USA Swimming limping along for almost a year with interim CEOs, weak membership numbers, and a once-in-a-generation opportunity for a home Olympics looming, the organization is running out of grace with its fans and stakeholders – remembering that much of the swimming industry in America is driven by the success of the National Team.

While Phelps has stayed engaged in swimming behind-the-scenes, it is rare for him to make a public statement, so when he does, it carries a lot of power behind it. Will this be the one that forces a culture shift within the organization? Or will it wistfully blow past the Los Angeles Olympics with a mounting pile of excuses that are allegedly outside of its control?

Read the full story on SwimSwam: Michael Phelps, Ryan Lochte Share Meme Criticizing Team USA’s Performance at Worlds

Putin remains resolute despite Trump’s ultimatum on Ukraine conflict

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Russian President Vladimir Putin has voiced hopes for further peace talks with Ukraine – but stressed his troops were “advancing on the entire front line”, despite the threat of tougher US sanctions if a ceasefire was not agreed upon.

“All disappointments arise from inflated expectations,” Putin said, in an apparent reference to Trump’s “disappointment” with the Russian leader for not bringing an end to the war.

Speaking a day after one of the deadliest Russian air attacks on Kyiv, he repeated his demands for Ukrainian neutrality and recognition of the occupied territories, which Ukraine views as a capitulation.

Ukrainian President Volodymyr Zelensky said he was ready to meet Putin “any time”.

Speaking on Friday at the Valaam Monastery on an island in north-western Russia, Putin said he expected negotiations with Ukraine to continue, adding that he viewed “negotiations positively”.

But in a veiled reference to growing pressure from Ukraine and its Western allies to agree to a long-term ceasefire, he said: “As for any disappointments on the part of anyone, all disappointments arise from inflated expectations.

“Our enemies and ill-wishers… now have one fiery passion: to stop our advance [on the front line in Ukraine] at any cost”.

Ukraine and its allies have repeatedly accused Russia of stalling peace negotiations and rejecting any meaningful ceasefire, saying Moscow is trying to seize more Ukrainian territories.

Three rounds of Russia-Ukraine talks in Istanbul, Turkey, in recent months ended without any major breakthrough. The two sides, however, agreed to swap several thousands of prisoners of war.

Speaking shortly after Putin’s comments, Zelensky questioned whether Russia was showing “serious readiness to end the war with dignity and establish a truly lasting peace” or whether it was “just an attempt to buy more time for war and postpone sanctions”.

In recent weeks, Russia has intensified its deadly drone and missile strikes on Ukraine.

On Thursday, at least 31 people – including five children – were killed in a Russian aerial assault on the Ukrainian capital.

US President Donald Trump condemned Russia’s actions, threatening new sanctions.

“Russia, I think it’s disgusting what they’re doing,” he told journalists.

When in July Trump announced his original 50-day deadline for Russia to end the war, Putin didn’t react. When that was reduced to 10-12 days, Putin said nothing.

But on Friday the Kremlin leader left little doubt that he would not be swayed by a White House ultimatum.

Trump may claim to be “disappointed” with Putin for not making peace – but the Russian leader is unrepentant.

His guest on the Valaam island, Belarus’ authoritarian leader Alexander Lukashenko, was more direct in his dismissal of Trump’s deadline.

“50 days, 60 days, 10 days. You don’t do politics like that,” Lukashenko said.

Experience shows that, for Trump, deadlines are not set in stone. But on paper, at least, his latest deadline expires on 8 August.

If by then Russia hasn’t signed up to a ceasefire in Ukraine, it will face more sanctions – so in theory will countries that buy Russian oil.

But judging by what the Russian state media has been saying in recent days, many in Moscow doubt the White House will go through with its threat of tougher sanctions.

What’s more, from what Putin said on Friday about Russia advancing along the entire front line in Ukraine, he clearly believes a ceasefire now is not in Moscow’s best interest.

Ukrainian officials on Friday said Kyiv had received “positive signals” from the US about potential new sanctions.

A day earlier, senior US diplomat John Kelley told the UN Security Council that Russia and Ukraine “must negotiate a ceasefire and durable peace”.

“It is time to make a deal,” he said.

Trump’s special envoy Steve Witkoff, who is currently in Israel, would visit Russia next, the US president said earlier this week. He gave no further details.

Yarns Made from CO2 Aim to Reduce Fashion Industry’s Carbon Footprint

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Concepts such as fast fashion have brought attention to the carbon footprint of the textile industry. Unfortunately, the situation has worsened in recent decades, with studies suggesting that the textile industry could account for 26% of the world’s carbon emissions by 2050. To address this issue, reducing garment consumption, promoting recycling, and embracing scientific and technological advances for sustainable raw materials will be key.

One example of progress comes from a Californian startup that has developed textile fibers obtained from CO2, making them carbon negative. This represents a significant step forward in combating the textile industry’s environmental impact.

How are textile fibers obtained from CO2?

Carbon dioxide obtained through carbon sequestration technologies is the starting point for achieving these sustainable textile fibers. This system captures carbon dioxide emissions from factories and other sources and stores them for later use as a raw material. The company employs biochemical processes using enzymes to transform this captured carbon dioxide into cellulose, which finds application in the textile industry. Initially, they create cellulose pulp sheets, which are later processed into fibers.

The resulting material, known as lyocell, serves in the textile industry and finds use in bedding. Being produced from CO2, it qualifies as carbon negative, meaning its production consumes more carbon dioxide than it emits, making it environmentally beneficial. It is also water- and soil-neutral, causing no adverse impacts in those respects. Moreover, the process generates no waste, contributing further to its sustainability.

The breakthrough technology, developed through a partnership between the Californian startup and a Danish fashion company, was unveiled at the Global Fashion Summit in Copenhagen in 2022. The material contains 20% CO2-sourced fibers, serving as an intermediate step toward producing the first sustainable cellulose garments. The company’s founders highlight their key achievement of stabilizing the enzymes in a reactor, enabling the industrial-scale implementation of the process.

Twins, scientists, and entrepreneurs

The startup responsible for this project was founded by two young scientists, Leila and Neeka Mashouf, who have spent their careers in the U.S. Both hailing from Silicon Valley and graduates of Harvard University, their passion for science was evident from a young age, starting at fifteen. Recognizing an opportunity to infuse their family’s fashion business with a fresh technological vision, they established their company in 2020.

In a remarkably short period, their company has successfully collaborated with prominent names in the textile industry, cementing their presence and impact. Additionally, they engage with a broader audience through their TikTok channel, offering popular science videos to the public.

Producing food with CO2

As we move towards a complete shift to renewable energy, one strategy for decarbonization involves reclaiming carbon dioxide and converting it into feedstock as part of the circular economy. A notable application in this area is the technology that transforms carbon dioxide into proteins, accomplished through microbes that consume hydrogen and carbon dioxide, leaving behind a dry residue that consists mainly of pure protein.

This synthetic food innovation holds potential for future Mars missions, where it could be incorporated into the astronauts’ diet. Moreover, on our planet, such nutritional alternatives might serve as food supplements to meet human dietary requirements. For further details on this protein technology, you can find more information in this article.

Alternatively, if you are interested in exploring carbon dioxide sequestration technologies, we recommend checking out this article discussing the use of cotton for the development of new CO2 filters, or this one focusing on mineral carbonation techniques that are currently being applied in Iceland.

 

Source:

Traders predict further US rate cuts as dollar falls following disappointing jobs report

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Dollar tumbles, traders bet on more US rate cuts after weak jobs report

The Impact of Trump’s Tariffs on Factory Closures in Lesotho

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new video loaded: Why Trump’s Tariffs Are Closing Factories in Lesotho

Recent episodes in Latest Video

Whether it’s reporting on conflicts abroad and political divisions at home, or covering the latest style trends and scientific developments, Times Video journalists provide a revealing and unforgettable view of the world.

Whether it’s reporting on conflicts abroad and political divisions at home, or covering the latest style trends and scientific developments, Times Video journalists provide a revealing and unforgettable view of the world.

Earn up to $370K with Walmart – as AI takes over jobs, the retail giant is offering six-figure salaries for positions off the sales floor

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Landing a lucrative tech job has never been easy—but this year in particular has presented unique challenges thanks to AI’s revolution of the job market and a worsening labor market.

Some companies are using AI to boost productivity. Others are using it as a reason to slash headcount. Firms like Intel, Google, and Microsoft have cut jobs in recent months, but while their leaders haven’t solely blamed the technology, others haven’t minced words.

“We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs,” Amazon CEO Andy Jassy wrote in a recent internal memo. “In the next few years, we expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company.”

But there are still opportunities for workers to find success in today’s job market. Walmart, the No. 1 company on the Fortune 500 list, is on the hunt for experienced software engineers, data scientists, IT product managers, and more—with dozens of open job postings making six-figures, with some roles extending to over $300,000.

The perks and paychecks on offer at Walmart 

Pickleball classes, hydromassages, and rooftop lounges.

Those are the perks you could be enjoying if you’re willing to pack your bags and move to Bentonville, Arkansas, and take a job at Walmart’s new 350-acre luxury campus.

And while the office alone might not convince you to relocate to small-town America, the retail giant is still willing to shell out high-paying salaries for competitive tech talent. Walmart is on the hunt for experienced software engineers, data scientists, IT product managers, and more.

Here’s what each can expect to earn: 

  • Software engineer
    • Staff, software engineer: $132,000-$264,000
    • Principal, software engineer: $110,000-$220,000
    • Senior, software engineer: $90,000-$180,000
    • Distinguished, software engineer: $156,000-$338,000
  • IT product managers
    • Staff, product manager: $110,000-$220,000
    • Senior, product manager: $90,000-$180,000
    • Principal, product manager: $110,000-$220,000
  • Data scientists
    • Staff, data scientist: $143,000-$286,000
    • Senior, data scientist: $90,000-$180,000
    • Distinguished, data scientist: $130,000-$312,000
    • Principal, data scientist: $143,000-$286,000
  • UX designers
    • Senior UX designer: $90,000-$180,000
    • Senior manager, UX design: $110,000-$220,000
    • Senior, design researcher: $90,000-$180,000
  • Tech directors
    • Director, software engineering: $130,000-$260,000
    • Group director, software engineering: $195,000-$370,000
    • Director, data science: $169,000-$338,000
    • Senior director, data science: $160,000-$320,000

These numbers were sourced based on Fortune analysis of active job postings, but the exact compensation package, including salary, bonus opportunities, and stock award, will likely vary by role and depend heavily on a candidate’s experience. Location, too, is a factor, with Walmart also recruiting for its satellite locations like in California and Washington.

Fortune reached out to Walmart for comment.

The secrets to landing a job in today’s rocky market

Despite this revolution, some best practices still hold true for landing a high-paying gig. But because careers are changing faster than ever, Jassy encourages Gen Z to stop worrying about what their job will look like in 10 years—and focus on finding a passion.

“I have a 21-year-old son and a 24-year-old daughter, and one of the things I see with them and their peers is they all feel like they have to know what they want to do for their life at that age,” Jassy said on the podcast, How Leaders Lead with David Novak. “And I really don’t believe that’s true.”

And it’s a practice he learned from personally; Jassy experimented in sportscasting, soccer coaching, and investment banking before landing at Amazon.

“I tried a lot of things, and I think that early on, it’s just as important to learn what you don’t want to do as what you want to do, because it actually helps you figure out what you want to do.”

For Walmart CEO Doug McMillion, one of the secrets for success is simple: raising your hand and being a team player.
“Nothing happens through the work of just an individual,” McMillon told Stanford’s Graduate School of Business this May. “We all do this together.”

Isak’s connection to Liverpool strengthens as absence from Newcastle persists | Soccer Updates

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Sweden striker Alexander Isak heavily linked to Liverpool move after reportedly telling Newcastle he wants to leave.

Newcastle have rejected Liverpool’s opening bid to sign unsettled Sweden striker Alexander Isak, according to reports.

Isak has been training at his old club Real Sociedad this week after reportedly telling Newcastle he wants to leave St James’ Park.

The 25-year-old has been linked with Liverpool since the end of last season, and the Premier League champions are now believed to have formalised their interest with an offer of about 110 million pounds ($146m) plus potential add-ons.

But Newcastle, who reportedly value Isak at 150 million pounds ($199m), remain eager to hold on to their prize asset and have rebuffed Liverpool’s initial bid.

Isak, who joined Newcastle in a 60-million-pound ($80m) move from Real Sociedad in 2022, scored 23 Premier League goals last season to help Newcastle qualify for the Champions League.

He has three years left on his Newcastle contract, but did not travel to Asia for the Magpies’ ongoing preseason tour, with the club saying he had a minor thigh injury.

On Thursday, Real Sociedad confirmed he was at their Zubieta facility with his own trainers.

It was reported on Friday that Newcastle had told Isak he could agree a new deal containing a get-out clause for next year, but he responded by insisting he wants to move now.

Liverpool manager Arne Slot has already bolstered his attacking options by signing Eintracht Frankfurt striker Hugo Ekitike and Bayer Leverkusen playmaker Florian Wirtz during the current transfer window.

But the Reds are eager to make their forward line even more formidable by adding Isak, as they look to win back-to-back English titles for the first time since the 1980s.

Newcastle boss Eddie Howe struck a defiant note earlier this week when he said: “He is still our player. He’s contracted to us.

“We, to a degree, control what is next for him. I would love to believe all possibilities are still available to us.

“My wish is that he stays, but that’s not in my full control.”

Liverpool have spent more than 250 million pounds ($332m) so far in the summer window, with Milos Kerkez, Jeremie Frimpong and Giorgi Mamardashvili joining Wirtz and Ekitike at Anfield.