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• Club cannot match City or Spurs financially, says Hodgson
• Manager trying to use money ’sensibly and intelligently’

The Liverpool manager, Roy Hodgson, is keen to make further signings before the start of the season but admits he has to be realistic in his aims.

The Englishman accepts he cannot match the spending power of Premier League rivals such as Manchester City or Tottenham but that will not stop his recruitment drive. Having already acquired Joe Cole and Milan Jovanovic on free transfers, and brought in the 18-year-old centre-back Danny Wilson for an initial £2m, Hodgson has to find a left-back and support for striker Fernando Torres.

Liverpool were today linked with Manchester City’s England defender Wayne Bridge and Milan’s Klaas-Jan Huntelaar – both of whom would make a considerable dent in Hodgson’s restricted transfer budget. However, with Emiliano Insúa on the verge of a £5m transfer to Fiorentina, the winger Albert Riera in talks with Olympiacos over a move for a similar amount and the £25m-rated midfielder Javier Mascherano more than likely to be leaving Anfield this summer the manager should have money available to strengthen his squad.

“We don’t have the unlimited funds that teams like Manchester City and even Tottenham to some extent these days seem to have,” said the 62-year-old. “On the other hand some money is being made available and we are doing everything to use that money as sensibly and as intelligently as we can.

“We had quite a good squad of players last season: Steven Gerrard, Fernando Torres, José Reina – these players mean there is a certain strength to the team whatever we do. We would like to make some changes. Every manager who comes to a new club would like to make changes, to bring in some fresh players.”

Hodgson has yet to work with most of the players who are likely to make up his first-choice line-up as they have either only just returned from a delayed holiday because of the World Cup or are still on leave.

Instead the Liverpool manager has been putting a largely reserve squad through their paces at their Switzerland training camp. Last night he took charge for the first time in a goalless friendly against Grasshoppers with a team who had an average age of just 20.

Hodgson is keen to arrest the decline of the last decade in terms of players coming through the ranks and in the last week has given hope to a number of promising youngsters.”It’s a great opportunity for them but my real work in preparing Liverpool to play next season will begin when I get back to Melwood and find the 13 players who went to the World Cup,” he said.

“If you’re a young player you’re waiting for that chance to get into the first team and show what you can do. These lads are being given a chance earlier than expected but unfortunately they are being given a chance all together.

“What you hope for when you get your chance is that all the big-hitters are around you and they make it a bit easier for you. Here we are throwing them all in together.”

LiverpoolRoy HodgsonTransfer windowguardian.co.uk