Andy Carroll
The very definition of a panic buy. Liverpool allowed Fernando Torres to leave in the last few days of the 2011 January transfer window and they splashed out a club-record fee on his replacement.
At the time, Carroll was seen as a promising, upcoming striker but injuries plagued his time at the club. He didn’t fit Brendan Rodgers’ style of play when the Northern Irishman was appointed manager and he left for West Ham on loan before joining the Hammers permanently. The Merseyside club made a £20m loss on the player.