Hodgson hopes takeover will boost transfer kitty

Liverpool manager Roy Hodgson hopes to be given the chance to revitalise his squad with new signings after New England Sports Ventures (NESV) completed their takeover of the Premier League club on Friday.

NESV’s 300 million pounds purchase leaves Liverpool in a much healthier financial position as it erased the debt amassed by previous owners Tom Hicks and George Gillett when they bought the Reds in March 2007.

Hodgson is hoping NESV chief John W Henry will allow him to compete for top-class players after he was only able to make last-minute signings before the transfer window closed in August.

“It will mean in future we can invest in players in a different way to what has happened in the last transfer window,” Hodgson said on Friday.

“Then money was in short supply and we weren’t even certain there would be any money to spend or even if the club would be there.

“The mere fact the debts are wiped off immediately puts us into a different financial position to the one we have been in.

“I haven’t confirmed this but I guess the amount of money we have had to pay the bank in interest will now possibly be made available for players.

“If that money alone was made available we would be quite wealthy.”

Hicks and Gillett made so little cash available to Hodgson that he had to wait until the 20 million pounds sale of Javier Mascherano to Barcelona just before the transfer deadline before signing players like Paul Konchesky and Raul Meireles.

Hodgson feels his inability to improve the squad significantly has impacted on Liverpool’s poor start to the season — they are in the relegation zone after winning just once in the Premier League.

“I knew it would be difficult and one always hopes the start is going to make life easier but that hasn’t happened,” he added.

“I have always known there is a major job to do here and I know that job will become easier with new owners and much less financial problems than we’ve had in the past.

“We are in a rebuilding phase and I think the new owners will definitely help in that.

“We can’t deny the previous owners were unpopular with people at the club and the fans, who saw them as draining the club of money and dragging it back by not releasing the money it was earning through its commercial activities to spend on players.

“I am hoping the new owners coming in will stabilise the situation and give us a chance to concentrate on the football.”