Liverpool Transfer News: Did Reds Screw Up Big Letting Meireles Go?

Liverpool knew what they wanted from Chelsea in exchange for Raul Meireles as the transfer window closed, and they waited wisely and patient until they got it.

While his departure will limit their explosiveness, it will free them up to improve over the long run. It was a solid move for a team that needs to find a way to build a better future.

The news that Meireles would be leaving the Reds came suddenly. His transfer request was put in moments before the transfer window closed. Chelsea quickly announced the move.

ESPN released a statement made by Chelsea

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''Chelsea Football Club is delighted to announce the signing of Raul Meireles from Liverpool on a four-year contract.''

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A £12 million fee has been agreed between the clubs for the midfielder. This amount was reportedly too steep for Chelsea on Tuesday.

However, after Chelsea reportedly had a bid of £40 million for Croatia midfielder Luka Modric turned down by Tottenham Hotspur, they returned to their dealing with Liverpool and met their asking price.

And this should definitely be considered a victory for the Reds. That is a fair deal for Meireles.

The 28-year-old Meireles, was only signed a year ago from FC Porto for £14 million. He is currently sidelined with a collarbone injury but should be returning soon.

To help combat Meireles' depature, Liverpool acquired Wales striker Craig Bellamy. This will be Bellamy's second stint with the Reds. He left amidst controversy surrounding that involved a teammate and a golf club in 2007.

Liverpool quickly released a statement, as found on SkySports.com, on Bellamy's arrival:

''Liverpool have tonight announced Craig Bellamy has signed a contract with the club. He will wear shirt No. 39.''

Bellamy is expected to back up Luis Suarez and Andy Carroll. Bellamy will certainly not be able to replace Meireles, but he adds depth and options for Reds' coach Kenny Dalglish.

All in all, it was a solid day for Liverpool. They may not be better tomorrow, but they will be in better shape this offseason to prepare for the future.