Liverpool have dismissed suggestions that the compensation due to Roy Hodgson in the wake of his sacking could impact upon the club's transfer budget.
The former Fulham manager's departure was confirmed on Saturday morning after just six months of the three-year deal that he signed last summer.
Reports have implied that Hodgson, who has been succeeded by Anfield legend Kenny Dalglish until the end of the season, will be due a year's salary as a lucrative pay-off.
That would also follow the rumoured £4million paid to Rafa Benitez last June, but Liverpool commercial director Ian Ayre insists that the club will not be hit in the pocket.
"We reached an agreement with Roy and certainly that type of payment does not come into the same area of business as our transfer budget," he said.
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