Liverpool manager Roy Hodgson has insisted the club need to compete with the likes of Barcelona, Real Madrid and Inter Milan in the coming transfer window.
Hodgson’s comments come in the wake of several statements from new owner John W Henry, who said the club will now need to be sensible about who they now sign.
Liverpool have started poorly this season, having gained just nine points from their first nine games, and sit in the relegation zone.
Hodgson has signed the likes of Paul Konchesky and Christian Poulsen during the summer but acknowledges the Anfield club need to set their sights higher in January.
“If we want the right quality, we have got to be prepared to pay the right price," Hodgson told Liverpool’s official website today.
"The owners know that perfectly well. We have got to make certain that if we go out and spend 20 million pounds, we are getting a 20 million player.
"We want to be attracting the players that Barcelona, Real Madrid and Inter are chasing. It would be nice to think that we can shop at a high level.”
Hodgson will also be hoping the new owners can hang on to the likes of Fernando Torres and Pepe Reina as losing those will mean the club will not be able to compete with the current and former European Champions like they want.
A striker seems the most likely to move to Anfield, with Mario Gomez, Oscar Cardozo and Fernando Llorente all linked recently.
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