No City-style spending in Reds' future

Liverpool co-owner Tom Hicks insists the Reds will continue to operate as a “smart club” and will never be tempted into an “unsustainable” spending spree such as that conducted by Manchester City.

Hicks also revealed Liverpool expect to rake in £26m (€29m) plus on sponsorship revenue in a year, and that will include a new deal with Carlsberg.

Carlsberg’s shirt sponsorship deal with Liverpool will end next year after 17 years, and it has been taken over by Standard Chartered – who have agreed a four-year contract worth around £80m (€89m).

Carlsberg declined to match the offer, but it now seems they will continue their involvement with the Anfield club on a scaled-down format.

Hicks told The Times: “You have to look ’cash flow’ rather than accounting - and we intend to operate Liverpool where it has a very strong positive cash flow, so we have the resources to be as competitive as possible on the pitch.

“That’s our commitment.”