Last summer was decent if you want to say that for them yes. A lot of the incoming came from squad players though in all fairness so it was a load od deadwood, some they spent real money in the first place on that brought the costs down. Generally when they do it though it can be awful with some of the random names they bring in. At some point you can't spend the same as your incoming without selling players you don't want to sell, which is where you start treading water and not going anywhere. Us selling stones for example was good business in a way, 5 players for 1 and he was always leaving. Except we do it again this summer and we wre weakening the first team (lukaku) so it kinda makes it pointless to sell to buy in that situation if we hyperthetically was doing that. that is what i mean in reagrds to the break even model, eventually you can't break even through normal means.
They brought in a load of 'filler' players with talk about how they where gonna be brilliant young gems found by Klopp - ala how he did it at Dortmund
of those - Karius - absolutely bombed and been dropped for Mignolet who is regarded as a bang average keeper
Grujic - tagged by them as this gem who would turn into an absolute bargain, so far hardly featured and looks absolutely nothing to get excited about, hardly makes their squad and they put 17yo bang average academy players ahead of him on it
Manninger - yeah...
Klavan - 31yo Estonian journeyman now starting for the greatest club in the world, how the standards have fallen, so good a player that Klopp actually preferred Lucas ahead of him until he was so brutally bummed by Vardy that he had to drop him
Wijnaldum - getting touted by them as world class now that he has put in a few
To pay for all this though they ended up absolutely gutting the depth of the squad, to the extent that when you look at their bench now it's shocking weak, also had to get rid of their performances at home, still not seen him do a bean away from home though which is the criticism levelled at him by the Barcode fans
Mane - very good signing, can't argue with that best cb - cos Klopp didn't like his attitude, got rid of their plan B in Benteke because he didn't fit Klopps pressing philosophy - which rather amusingly has shown to not work at teams that sit deep and deny them space - wonder if Benteke would have been handy against those types of teams...
Problem they now have going forward is that they have stripped the squad to the bare bones in terms of depth, they've loaned out Markovic (twice), Wisdom, Flannagan and Sahko to try to raise their prices for the future sale, but all besides Sahko have bombed on loan thus decreasing their value in reality (and Sahko due to Klopp will always be tagged as a problem player now - which will half his price when sold)
Besides for those, then they have nothing to sell besides players they don't want to leave - maybe a few fringe players like Stewart, Sturridge etc whose values won't exactly pay for what they need to bring in, ultimately they Have to sell one of their big name players in order to bring in anyone they want.