Benitez to get over £40m in transfer funds from new owners

Rafael Benitez is to receive unprecedented backing in the transfer market at the end of the season, with Liverpool's new American owners telling their manager that they intend to bankroll a summer of spending as they seek to make an immediate impact on their adopted sport, reports Dominic Fifield.

While George Gillett and Tom Hicks, who completed their takeover of the Merseyside club last month, have already stressed that they will not match the lavish spending of Roman Abramovich following the Russian oligarch's purchase of Chelsea, they have effectively informed Benitez that money is not an issue in terms of his close-season plans, granting him more financial clout than any previous Liverpool manager. The Americans are already committed to spending some £270 million on a new stadium in Stanley Park, which is due to be completed in late 2008.

The new owners attended Saturday's 4-1 victory over Arsenal and met Benitez for four hours of discussions at the club's training complex on Sunday, to outline their long-term strategy. "We were talking about ideas for the future and it was good," the Spaniard said yesterday. "It was very positive and, for me, the future of the club is brilliant. They (Gillett and Hicks) said that we will go in the right direction."

Benitez, who has also emphasised the need to improve youth development, would not discuss the figures involved last night, but it is understood that the funds at his disposal will be in excess of £40 million. That would allow Liverpool to compete at the top end of the market for players, the more so given Abramovich's recent apparent attempt to rein in his spending at Stamford Bridge, granting the Spaniard far more leeway than he has enjoyed since arriving on Merseyside in 2004.

The manager has spent heavily since then, though he has largely been forced to buy in bulk, bringing in a number of players, some of whom have been recruited purely with the future in mind, for a combined figure totalling around £20 million each summer. Confirmation that he will now be able to set his sights higher and lure more established talent to Anfield - particularly given his long-standing interest in Daniel Alves at Sevilla, Samuel Eto'o at Barcelona and Valencia's David Villa, all of whom had previously been out of his reach - will encourage both the manager and supporters, even if it should hardly come as a surprise.

Gillett and Hicks have already proved themselves willing to invest heavily in baseball and ice hockey in the United States and are now keen to demonstrate their commitment to Liverpool.

Guardian Service