Thursday, October 28, 2010

NESV Plan To Curb Excess Liverpool Spendings

NESV want to reign in mega transfer spending at Liverpool. The Telegraph says NESV is believed to have been concerned by the millions of pounds haemorrhaged on transfer fees and wages by the club in recent years as it examined Liverpool's finances as part of the due diligence process carried out before the £300 million purchase of the Anfield side was completed. Under Rafael Benítez, Liverpool spent more than £230 million in six years on fees alone – though much of that was recouped in sales – while the purchases of the likes of Raul Meireles, Christian Poulsen, Brad Jones and Paul Konchesky totalled £25 million in Hodgson's first summer at the club. "We have to be smart," John W Henry, NESV's principal backer, who will assume a place on Liverpool's board, said after the deal was completed. "We have to be more efficient. When we spend a dollar it has to be wisely. We cannot afford player contracts that do not make long-term sense. We have to be smart, bold, aggressive. It's a great challenge."

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