The true cost of failure during the latter years of Gerard Houllier's reign at Anfield became painfully clear last night as it emerged Liverpool had paid £10.7 million to sever ties with the Frenchman, his backroom staff and certain players.
Around £4 million of that compensation package went to the manager himself upon his sacking in May after six years in the post, the pay-off incorporating the outstanding year of Houllier's contract plus a bonus due for finishing fourth with the possibility of qualifying for the Champions League.
That contributed greatly to Liverpool recording record losses of £21.9 million for the financial year ending in July.
Similarly onerous termination payments were made to Houllier's assistant manager Phil Thompson, coach Christian Damiano, goalkeeping coach Joe Corrigan and players deemed surplus to requirements such as Markus Babbel and Emile Heskey.
These, combined with Liverpool's failure to qualify for Europe's elite competition last season, effectively explain a colossal year-on-year drop of £25.5 million following the £3.6 million profit 12 months ago.
However, the club's manager Rafael Benitez has been assured that his desire to strengthen his squad in January and the summer of 2005 has not been affected by the record deficit.
"I've talked with Rick Parry and he told me the situation is under control," said Benitez, who has been offered Argentinian forward Julio Cruz by Internazionale. "Of course it's a problem if you don't have money to spend but it's better to scour the market and draw up a list (of targets) in the meantime. If we need to find the money to sign players, we will."
Elsewhere, Arsene Wenger launched an impassioned defence yesterday of Thierry Henry amid suggestions that the 27-year-old does not produce for Arsenal in big matches. The manager described criticism of Henry as "completely out of order" and emphasised that he regards him as the world's best striker.
Questions about Henry's big-game temperament resurfaced after his muted display in the defeat at Old Trafford. Critics gathered more ammunition in midweek when he scored once in a draw at home to Panathinaikos whereas Ruud van Nistelrooy hit four for Manchester United against Sparta Prague.
"You cannot compare," said Wenger. "Thierry Henry is a goalscorer and a provider and van Nistelrooy is a goal-getter in the box."
Wenger noted that Henry is the Premiership's top scorer and, he said, top provider. He has scored 56 goals in 84 games for club and country since the start of last season.
"Who can you compare him with? Nobody, I repeat nobody, up front can repeat week in, week out the quality of what he is achieving," said Wenger.
David Moyes last night reaffirmed his desire to sign Scott Parker from Chelsea during the January transfer window saying: "Scott Parker would certainly be a name we'd be interested in."
