Liverpool co-owner Tom Hicks has
revealed the club will not be spending money on the scale of
Chelsea.
The Blues have embarked on a massive spending spree since Russian
billionaire Roman Abramovich took charge at Stamford Bridge in the
summer of 2003.
Hicks along with business partner George Gillett have vowed to back
Rafa Benitez in the transfer market, but has warned they will not
be spending too big.
"I've been in the business for 13 years and I know that doesn't
work," Hicks told Radio 5 Live.
"Our job as owners is to create the right balance of generating as
much revenue as the fans want to pay, the sponsors want to pay, the
media companies want to pay and giving as much of it to the players
as you have to to have a business that can go forward as a
business.
"The key is to have a smart manager like Rafa who will take a
long-term view of how we can get better. I know enough from talking
to him now that he doesn't want to do what you just described, he
wants to build for the long term.
"I'm not saying we won't spend for transfers, that may be what we
do. But it's got to be in the context of a plan that makes
Liverpool competitive every year for a long time.
"We have budgeted a big number, I'm not going to tell you what it
is because it's part of Rafa's plan, but the new stadium is very
important to that because with the higher revenues Liverpool have
we will be able to compete with anybody."
Hicks also backed Benitez as the right man to lead Liverpool in the
new era under the American duo.
Benitez, who pledged his commitment to Liverpool after being linked
with Real Madrid, is set to meet Hicks and Gillett after the game
with Arsenal on 31st March to discuss their plans for the
future.
Hicks believes Liverpool are in good hands under Benitez and chief
executive Rick Parry.
"We're very fortunate in that George and I feel that Rick Parry is
the perfect guy to be the chief executive of Liverpool, and
certainly everything we have seen of Rafa Benitez suggests he is a
bright young manager as well," concluded Hicks.
