Liverpool Transfer News: Is Joe Cole Worth the Money?

After weeks of speculation and worrying about losing their top players on the transfer market, Liverpool turned the tables and finally got what everyone (i.e. coaches, players, fans) wanted: a top free agent.

Joe Cole is that man. The 28-year-old midfield now joins the Anfield ranks after calling rivaling Stamford Bridge home for the past seven years.

But is he worth the £90k a week?

Cole is without question an impact player, but some estimate that Liverpool overpaid by as much as £20k/week in their bid to get the former West Ham prodigy. This could possibly be due to the fact that Cole has a not-so-short injury history and was unable to establish himself in a key starting role for Chelsea nor England.

His production last year supports the aforementioned theory. In the 2009 season, the England international recorded a paltry two goals in 39 appearances for the Blues. Just one year prior, Cole managed to score seven goals in just 31 matches.

More goals in less appearances? How does that work?

Of course, Cole did suffer ligament damage in his knee that affected both seasons. The injury not only cut his 2008 campaign short but also hampered him for the next year. But this only reinforces the notion that Cole is injury prone and doesn't work in his favor.

Then there is the monetary problem facing the club.

I thought this was supposed to be a club in dire financial straits, one that considered selling off its most prized assets—Steven Gerrard and/or Fernando Torres—to start moving from the red to the black. But apparently you can be £350m in debt and STILL be chasing big name free agents; not to mention overpay them (no offense Joe).

While this move certainly pleases Liverpool supporters, it really doesn't make sense for the club in the financial sense. It could definitely pay off by Cole helping them capture a few trophies though..

Costs aside, the winger will undoubtedly improve the Liverpool product on the pitch. Cole's creativity and excellent passing will benefit both Torres and Gerrard in the attacking third, providing a much-needed spark for the Reds.

And Cole possibly already benefited the club. It's been said that the Cole signing may have persuaded Liverpool's talismanic midfielder, Steven Gerrard, to stay with the Reds.

For that, Joe Cole is definitely worth it.