"No Financial Woes, Liverpool To Splash the Cash in Summer," Says Tom Hicks

Amid reports in the press that Liverpool might sell Fernando Torres or Steven Gerrard in the summer to reduce debt, Liverpool co-owner Tom Hicks has come out and rubbished such reports and promised to spend "BIG" in the summer.

Reports in the press recently suggested that due to the increasing debt Liverpool would consider selling their prize assets to balance the books. But co-owner Tom Hicks in an email to fan said:

“Our debt is very manageable (see Man U) and we never use player sales for debt service,” Hicks Sr wrote in the e-mail, responding to concerns from a supporter that Liverpool will not be big spenders in January.

“Our interest on £200 million is about £16 million. The new stadium will be the game changer. January is a poor-quality market. The summer window will be big."

“We are working hard on the new stadium. We have an excellent management team and manager. We know we need more depth on the squad and will address it this summer. We hope to have a stronger second half of the season.”

"We know we need more depth in the squad but January is a poor quality market and will address it this summer."

The email was sent by Hicks after his son Tom Hicks Jr. announced that he was stepping down as a Liverpool director after admitting sending an abusive e-mail to a fan. The fans were apparently enraged by the news that despite offloading players in the January window Benitez will not get the cash to spend on strengthening the squad.

Liverpool insiders say that not spending lavishly in the January window is a wise decision as the market is inflated and difficult, but they insisted that Benitez will be backed in the summer, and cash generated in January will also be at Benitez's disposal in the summer. Liverpool are already preparing for the summer window with the Bordeaux striker Marouane Chamakh a target on a free transfer.