Liverpool's transfer business has come under the microscope after Jamie Carragher claimed it left them trailing behind their Premier League rivals at the turn of the century.
The Anfield legend made headlines when he admitted the club's transfer business under Gerard Houllier between 1998 and 2004 left them playing catch-up to their rivals, particularly Arsenal.
Carragher told Sky Sports: 'I think we were spending similar to Arsenal, and the big difference between [Gerard] Houllier and Arsene Wenger, though I adore Houllier, Wenger was a genius in the transfer market.