Liverpool have one of the highest wage bills in the Premier League and as such have several star players on huge wages. In fact, the Reds boast the fourth-highest wage bill in the Premier League, amounting to almost £140 million.Apart from one or two signings, the Reds have not spent big in the transfer market and instead have made some shrewd acquisitions. These players have developed into superstars at the club and have therefore managed to earn new contracts with hefty wages.A few Liverpool players have been unable to justify their wagesWhile many of Liverpool's signings have proven to be a success, few have failed to leave their mark and hence have been unable to justify their hefty wages.Here we take a look at five such players who have so far failed to justify their wages:#5 Nathaniel Phillips - £65,000Liverpool FC v Real Madrid - UEFA Champions League Quarter Final: Leg TwoDue to Liverpool's injury crisis in the centre-back position last season, the club had to turn to academy player Nathaniel Phillips to fill the void.The 24-year-old certainly did not disappoint. He managed to play 19 league games for the Reds, helping them qualify for Champions League football on the last day of the season. He also won Liverpool's Player of the Month accolade in March.Liverpool rewarded the youngster with a new contract, increasing his wages to £65,000-a-week.Anfield Watch@AnfieldWatch🚨 BREAKING: Nathaniel Phillips has signed a new long-term deal with Liverpool Football Club. #awlive [lfc]9:30 AM · Aug 31, 20212483111🚨 BREAKING: Nathaniel Phillips has signed a new long-term deal with Liverpool Football Club. #awlive [lfc] https://t.co/u1oDeBew34But with Liverpool's first-team centre-back trio of Virgil van Dijk, Joel Matip and Joe Gomez returning from injury, it is highly unlikely for him to play regularly. The Reds have also added Ibrahima Konate to their ranks, making it increasingly difficult for Phillips to make an appearance for Liverpool this season.Paying such wages to a player who is rarely going to be used in the first-team definitely looks like a bad decision by the club's hierarchy.#4 Takumi Minamino - £75,000Liverpool v Osasuna - Pre-Season FriendlyMinamino arrived with a huge reputation from RB Salzburg in January 2020 for a fee of around £8 million. Liverpool fans had already seen him play against them in the Champions League group stages that season and were pretty excited about what he could bring to the team.But it's fair to say that Minamino was not able to live up to the hype. During the second-half of that season, the Japanese international played 14 games for the club. However, he was neither able to score or provide an assist in any of them.Minamino made just eight appearances for the Reds the following season before going out on loan to Southampton in January. Two goals in the first three games at the Saints suggested he would flourish with regular first-team football. But the winger did not manage to score any goals or assists after that and returned to Anfield in the summer.👑true red alpha👑@AHuss96This video sums up takumi minamino's Liverpool career so far, have all the skills in the world but too lightweight for the Prem. #LFC #LFCPreSeason9:41 AM · Jul 19, 202151This video sums up takumi minamino's Liverpool career so far, have all the skills in the world but too lightweight for the Prem. #LFC #LFCPreSeason https://t.co/L2F9qULL0QIt looked likely that Minamino would seal a permanent departure in the summer. But Klopp decided to keep the winger hoping to use him as a squad player.Nevertheless, Minamino has so far failed to justify his £75,000-a-week wages. He will, however, be hoping to impress in the few games he plays to stake a claim in the Liverpool squad.