The extent of Liverpool manager Rafael Benitez's difficulties in terms of rebuilding his squad next season were laid bare by the publication of the club's financial accounts.
Although the figures are only dated to July 31 last year, they showed Liverpool as a club made an operating loss before tax of £16 million, down from a £10.2 million profit the previous year.
Kop Holdings, the company set up by co-owners Tom Hicks and George Gillett to buy Liverpool in 2007, continued to run up more debt as annual interest repayments on loans taken out to finance the purchase rose by £3.6 million to £40.1 million.
That resulted in the group making a loss before tax of £54.9 million, an increase of £14 million from 2008, which in turn contributed to Kop Holdings' debt rising from £299.8 million in 2008 to £351.4 million last year.
With the finances in such dire straits, Europe's richest clubs may sense an opportunity to cherry-pick Liverpool's top stars.
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