It has been confirmed Liverpool paid a £5 million signing on fee to sign Joe Cole on a free transfer during the summer, a big percentage of which went to his agent.

And this is in addition to his reported £90,000 wages. Fans have not yet seen the best of the England international but he could be a bargain if he hits top form.

Cole was out of contract after his deal with Chelsea had run out and Liverpool swooped ahead of Arsenal and Tottenham to bring him to Anfield.

However, it does highlight the amount of money paid by Barclays Premier League teams for players that should technically cost them very little.

Liverpool paid over £9 million in agent fees as Roy Hodgson wasted no time in implementing his Anfield revolution – the second highest amount behind Chelsea.

Cole’s fee, though, was covered by the £6 million transfer fee they received from Chelsea for Israel midfielder Yossi Benayoun.

And their agent fees for next year could be higher as Hodgson continues his overhaul of Liverpool’s struggling squad.

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