Rafael Benitez unveiled new boy Glen Johnson on Thursday and took a swipe at Manchester City with their "money, money, money" approach to the transfer market.
The Liverpool boss has spent Â£17million on the England full-back, a large chunk of which is wiped out by the cash Portsmouth still owe the Anfield club from the Peter Crouch deal. And while Benitez played hardball with Xabi Alonso and Javier Mascherano over their long-term futures, he accepts that the market was now "crazy" and dominated by money.
Benitez, who admitted he had tried again to sign Gareth Barry this summer from Aston Villa, said: "We had to pay big money, the market is now crazy. It is all money, money, money now. But we were signing a good player, an England player, and that is very positive."
He added: "He has a good mentality, and when I spoke to him first it was clear he wanted to come here.
"Things have changed. You have to adapt to a situation. Manchester City and big clubs in Europe are spending big money, so the market has changed and we have to work harder.
"You have to do that to stay at the level we are at because of the big money being spent here and abroad."
City also wanted Johnson, but Benitez said: "It was difficult, some clubs are offering big money. But he wanted to come here, that was the difference.
"We did go back again for Barry, but as I said. it is all about money, money, money. It is as simple as that."
On City's influence on the market and their prospects for next term, Benitez added: "City have signed a lot of good players, but that is no guarantee they will win anything. But it will be interesting to see what happens next season.
"But whatever happens, experience is more important and we feel that we have that to be in the top positions. If you spend big it is always easier to perform well. But when you have a good understanding between players that is also important. If they are together, they work hard, that is just as important."
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