When Liverpool 'couldn't compete' with £5m transfer fees - Rafa Benitez reveals three players he was unable to bring to Anfield, including the all-time record signing that evaded the Reds

Rafa Benitez has revealed his transfer frustrations at Liverpool during Tom Hicks and George Gillett's spell as owners.

The American businessmen took over Liverpool in early 2007, with Benitez about to take the club into their second Champions League final in three seasons. Liverpool mounted a serious title challenge in 2008/09, falling just short of toppling Manchester United.

Things fell apart from there, however, as previously key players like Xabi Alonso and Sami Hyypia departed without adequate replacement. Hicks and Gillett's final summer in charge, under Benitez's replacement Roy Hodgson, infamously saw Joe Cole, Christian Poulsen and Paul Konchesky brought to the club. The club was sold to current owners FSG later that year.

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Speaking on the Stick to Football podcast, brought to you by Sky Bet, , Benitez said: “Under Tom Hicks and George Gillett, I wanted to sign [Stevan] Jovetic and he was £16 million.

"In my head, I was selling players and had £34 million, but was told that we don’t have money. We went to play against Florentina and lost 2-0 – Jovetic scored both goals. I said that this was the player we wanted to sign but we didn’t have money.

“I wanted to sign Aaron Ramsey when he was playing for Cardiff City, and we made an offer of £1.5 million but Cardiff were playing in the FA Cup and wanted us to wait, but I told them that we had to do it: he was 17 years old. When we went again to try and sign him, Arsene Wenger paid £5 million, and we couldn’t sign him.

“Gareth Bale, when he was 17 at Southampton, six months after we were watching him, Tottenham paid £8 million, and we couldn’t compete.”

Benitez left by 'mutual consent' in summer 2010 after Liverpool dropped from seventh in the table to 7th, as well as going out of the Champions League at the group stage.

It would be another five years before they played Champions League football again as the club underwent a rebuild started by Sir Kenny Dalglish and Brendan Rodgers before Jurgen Klopp arrived in 2015.

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