Reds seek wage bill reduction

by Setanta Staff , 04 May 2012 Reds seek wage bill reduction

Liverpool's owners admit transfer fees and salaries need handling with care after reporting a huge increase to their wage bill.

Fenway Sports Group have bankrolled substantial investment in the playing staff since January last year, although that has been heavily supplemented by the £50million sale of Fernando Torres to Chelsea.

However, the club's latest accounts have revealed a near-£12million rise in the wage bill, and while the departure of the Spanish international will have helped, there remains much work to be done to keep costs in check.

The Reds continue to contribution for the likes of Joe Cole's reported six-figure weekly salary even though he is currently on a season-long loan in France with Lille.

The owners have made it clear they are keen to keep a tight rein on the spending on players, both transfer fees and wages, while "remaining as competitive as possible".

In the accounts, officially published on Friday, the club identifies that area - among others - as being key in terms of 'principal risks and uncertainties'.

The figure for salaries of all staff rose to £120.3m.

"Player transfer market and wage costs are those that need the most care, and the aim is to manage these costs within financial constraints whilst remaining as competitive as possible," said the directors' report submitted as part of the accounts.

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