Liverpool will continue to spend despite debt, says Brendan Rodgers
London: Liverpool manager Brendan Rodgers says he expects to be fully backed in the transfer market, despite recent figures indicating that the club`s debt has reached over 93 million Euros.
Financial accounts from the 10-month period up to 31 May 2012 were released by the Merseyside outfit on Monday, and revealed a 25.2m Euros rise in debt alongside a loss of 47m Euros.
However, Rodgers has been assured by current owners Fenway Sports Group that those significant losses will not impact his spending power.
“In terms of me building the squad, I`ve already got the assurances that it won`t affect anything,” he told reporters.
"They`ve made every promise and every commitment to me that every single penny that they have will go in to regenerate the squad and make it better.”
"We won`t be able to do it like some clubs and throw out masses each year. But we`re looking to make sure we can grow the club and bring in quality players - and that won`t stop."
Liverpool were purchased by FSG in 2010 in a deal worth 347m Euros, and Rodgers feels the club have progressed under the American group since their arrival.
"If you look at where the club was at four years ago, and where it is now, it`s in a different place," he continued.
"Of course, there`s still debts there and there have been announcements made on that. I think next year`s results will show further improvement on that.
"You have to give massive credit to the board here. FSG took on an astronomical amount of debt, over €463 million. Where it`s at now, given the short time they`ve been here, is a huge credit to them, and they`re still supporting the investment in the team.”