As I mentioned before the transfer window is now open for signing players in preparation for the 2007/08 season. Every time the transfer window opens we get enough twists and turns to rival any soap opera. Already this one has not disappointed.

As Liverpool fans we are used to going from the ecstasy of Zidane to sign rumours to the reality of Luis Garcia. This summer we were supposed to get to sit back and enjoy Benitez bringing in the big names with a War Chest to rival Chelsea’s transfer budget, but as yet it has not happened. The problem with this expectation is that even if Benitez had the kind of transfer budget that Chelsea have had since Roman Abramovich changed the face of the Premiership, he wouldn’t pay the kind of prices Chelsea have been paying for players. As the doom and gloom sets in on many a Liverpool supporter’s summer it is time to take a more realistic look at what’s been going on.

On the 24th of May, Benitez ended the Honeymoon period of the new owners when he went public about his frustrations with the pace of Liverpool’s plans for signing new players. Since then only Andriy Voronin, 20 year old Brazilian Lucas Leiva, and two Hungarian stars for the future, Krisztián Németh and András Simon have been officially signed. There has been talk of more signings including Sebastián Leto £2.5million from Club Atlético Lanús, Gary Mackay Steven from Ross County, Alexander Kacaniklic £75,000 from Helsingborgs IF. As is usual with players who are not bought to go straight into the first team squad the news is slower to come through but I expect most, if not all, of these players to be on Liverpool’s books by the 1st of September. While this list may not excite most fans there is enough in there to make me question the current tirade of dooms day stories coming from the media.

Included in the Németh and Simon transfer is an agreement with their former club, MTK Hungária FC, to become a feeder club for Liverpool. Not something that costs that much money but a sign none the less that the club are looking towards the future as well as the present. Lucas Leiva cost anything between £6m and £8m depending on which story you read which is a very significant figure to pay for a 20 year old and a significant indicator of Liverpool having money to spend. If the other deals do come off it is reported that Leto, another 20 year old – but this time for the left-wing, will cost a further £2.5m. This means Liverpool have spent anything from £6m to £10.5m on 20 year old players at a time when the media would have you believe that they only have £10m to spend on a new striker.

Another indicator of all being well at Liverpool is the fact that their biggest names have all signed contract extensions. Steven Gerrard and Jamie Carragher led the way and were soon followed by Jose Reina and Xabi Alonso. Steve Finnan and Momo Sissoko are reported to have signed their contract also and I expect that news to become official when the players return to training in July.

If the new owners were not forthcoming with funds, why would Benitez spend so much money on youth players? Why would he give nice big contract extensions to his big stars? Why would the big stars sign these contracts if they didn’t have assurances about the future of the club? And why would Benitez not cash in on one of his much sought after central midfielders to raise more funds for new payers?

I believe that there is money there to sign who Benitez wants. Not necessarily to sign the biggest players in the World, but to sign the players Benitez has identified as his number one targets for the positions he thinks need strengthening. Who those players are remains to be seen, but I believe that they will be signed in time to start pre-season training with Liverpool FC.

The Spanish league finishes today. Things will get a lot more interesting in Liverpool’s transfer market very soon…