Rafael Benitez has warned new owners George Gillett and Tom Hicks they will need to spend some serious money if Liverpool are to stand a realistic chance of meaningful silverware next season.

Whether the Merseyside giants won or lost Wednesday night´s Champions League Final, Benitez always knew it would be a summer of rebuilding at Anfield and the 2-1 defeat by AC Milan in the Olympic Stadium has only strengthened his resolve ahead of a key strategy meeting with Gillett and Hicks to pinpoint Liverpool´s plans for the future.

Benitez said: "If we want to be contenders next season and back in the Champions League Final, we need to improve the squad. When you see the quality of some of the other teams, it is clear."

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