Jamie Carragher has admitted Liverpool's transfer business during his playing days left them behind the Premier League's big guns.
Liverpool spent big in the late 1990s and early 2000s, keeping the pace with the sides at the top of the division, but struggled to break into the pack of title chasing sides.
The issue, according to Carragher, was that Arsenal would nab the likes of Thierry Henry, who went on to be their top scorer ever, for £11million and spend £6m on Robert Pires. Liverpool would splash out the same on Emile Heskey and Nick Barmby respectively.