New England Sports Ventures' £300million deal eliminates all the acquisition debt loaded on Liverpool when Tom Hicks and George Gillett made their purchase in March 2007. More importantly, it reduces the annual £40million cost of servicing the loans to £2-3million, according to NESV's estimate. Hodgson is hoping by freeing the club of such a financial burden Liverpool will be able to compete properly in the transfer market. "It will mean in future we can invest in players in a different way to what has happened in the last transfer window," he said. "Then money was in short supply and we weren't even certain there would be any money to spend or even if the club would be there. "The mere fact the debts are wiped off immediately puts us into a different financial position to the one we have been in. "I haven't confirmed this but I guess the amount of money we have had to pay the bank in interest will now possibly be made available for players. "If that money alone was made available we would be quite wealthy." The lack of finance in the summer meant Hodgson was severely hamstrung in the transfer window as he looked to strengthen the squad left him by predecessor Rafael Benitez. However, it was not until the £20million sale of Javier Mascherano went through that he was able to spend a significant amount - £10.75million - on midfielder Raul Meireles just days before the deadline. Hodgson feels his inability to bolster the playing staff has impacted on the club's poor start to the season, having won just once in the Premier League and currently sitting 18th in the table. "I knew it would be difficult and one always hopes the start is going to make life easier but that hasn't happened," he added. "I have always known there is a major job to do here and I know that job will become easier with new owners and much less financial problems than we've had in the past. "We are in a rebuilding phase and I think the new owners will definitely help in that. "We can't deny, unfortunately, the previous owners were unpopular with people at the club and the fans, who saw them as draining the club of money and dragging it back by not releasing the money it was earning through its commercial activities to spend on players and a new stadium. "Hopefully that will change." Even though the deal has now gone through, Hicks and Gillett are still threatening to sue for £1billion for what they perceive as the "illegal" sale of Liverpool. But Hodgson said that will be a lot easier to deal with moving forward than the situation which existed under the previous owners. "I am hoping the new owners coming in will stabilise the situation and give us a chance to concentrate on the football," he said. "Having a new owner who invests money in the club and wants the club to do well will be something quite separate from any individual litigation which may be going on in British or American courts. "I'm sad to hear there is litigation going on but I'm not certain that will impact on us in the same way that this current ownership issue has impacted on us. "You live through the good and bad periods but there is no doubt a cloud has been lifted from Liverpool today."
