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ROY Hodgson has been handed an instant boost as the new Liverpool manager after being told he will not have to sell prize assets Steven Gerrard and Fernando Torres, despite the club's financial difficulties.
Supporters had feared the ex-Fulham boss would have to sell the duo this summer to help service debts of almost STG400 million ($710 million).
But chairman Martin Broughton assured Hodgson he will not have to offload any players.
"Players are not for sale,'' said Broughton. "We don't need the money and we don't have to sell them because of the debt.''
Hodgson, who is not allowed to return to Fulham to sign any of his former players as part of his severance deal from the London club, admits he is facing one of the biggest challenges of his long managerial career but cannot wait to get started.
He has not discussed his transfer budget yet, but is expected to make several signings and knows he will come under immediate pressure to stop the rot at Anfield after replacing Rafael Benitez. The Spaniard quit Anfield last month after six years following a disappointing season that saw them finish seventh in the table.
"I expect the club and supporters to crave success and it's my job to make sure we deliver when it matters and not let them down,'' he said.
He said he will speak to Gerrard and Jamie Carragher in the next week to discuss what went wrong on the pitch last season, and is determined he has the ability to transform the fortunes of the club.
Liverpool were the pre-eminent club in English football during the 1970s and 1980s. But they were last crowned champions of England in 1990 and have not won the domestic title in the Premier League era.
Hodgson, 62, who has signed a three-year contract, said: "The number one priority is always the team. I want to help them do better and get back into the Champions League where the club has always been. My work will be on the field with the players and the training ground. I want to be a football manager and coach.''
Earlier he was heralded as the "right man for the job,'' by club captain Gerrard while Carragher, the vice captain, said "his appointment has given us all a lift.''
Manager of the year Hodgson joins Liverpool after a successful spell at Fulham, guiding their Premier League rivals to the final of the Europa Cup in May. The previous year he took them to seventh on the EPL table.
"This is the biggest job in club football and I'm honoured to be taking on the role of manager of Britain's most successful football club,'' said Hodgson.
Hodgson was Liverpool's first choice despite a host of other names being mentioned and media reports said it cost Liverpool two million pounds to win the release of the Englishman from his contract at Craven Cottage.
Former Liverpool stars also welcomed the appointment and hoped for a new era of stability and success at the club.
"The club needs a steadying influence and Roy will provide that,'' said former Liverpool captain Phil Thompson.
"He's done a fantastic job at Fulham and has a wealth of experience having managed all over Europe.
Former Reds striker John Aldridge said Hodgson would "fit the bill perfectly'' at Anfield and win the respect of the squad.
"His experience is exceptional, his CV is very good and the likes of Steven Gerrard and Jamie Carragher will be delighted to have Roy in charge,'' he told Sky Sports News TV channel.
Hodgson had been linked with England after their disappointing World Cup campaign under Fabio Capello, but negotiations were already at an advanced stage with the Merseysiders who moved to close the deal with speed.
Hodgson has less than a month to get to know his players and prepare them for a Europa League third qualifying round first-leg tie on July 29.
He is at least familiar with the prospect, having guided Fulham from that starting point all the way to the final this season, eventually losing to Atletico Madrid.
The former Switzerland manager then has to begin the task of strengthening a squad which is severely lacking strength in depth.
However, with the club in debt to the tune of 350 million pounds, he will be severely retricted in terms of spending power.
Even so his priority is to find a left-back, as Emiliano Insua is the only specialist in the first-team squad, and much-needed support for Torres in attack.
Factfile on Roy Hodgson after he was appointed Liverpool manager
1947: Born on August 9, Croydon, England.
1965-75: Player with amongst others Crystal Palace and South African side Berea Park.
1976: Starts managerial career with Halmstad in Sweden, winning two championships.
1980: Joins Bristol City as assistant manager.
1982: Appointed manager of Bristol City but dismissed within four months after poor run of results. Returns to Sweden, where he manages Orebro and then Malmo, who won five consecutive championships and two Swedish Cups under him.
1990: Leaves Sweden for Switzerland, taking over at Neuchatel Xamax.
1992: Becomes manager of Switzerland, whom he takes to the second round of the 1994 World Cup in the United States. Was in charge when they qualified for Euro 96.
1995: Appointed manager of Inter Milan.
1997: Agrees to become Blackburn manager in the summer. While still at Inter, his side lose to German club Schalke in the UEFA Cup final on penalties.
1998: May: Takes Blackburn into European competition for the first time since 1995 but Rovers win only two of their final 11 Premier League matches to fail in chase for title.
November: Sacked by Blackburn with the club bottom of the Premier League, having taken just nine points from 14 games.
1999: Returns to Inter Milan on April 27 as technical director until the end of the season. Joins Swiss club Grasshoppers.
2000: Appointed coach of Danish side FC Copenhagen. Linked with England job after resignation of Kevin Keegan.
2001: May - Takes Copenhagen to the domestic title.
August: Takes over as coach of Serie A club Udinese.
December 10 - Udinese and Hodgson part company.
2002: April - Appointed manager of United Arab Emirates.
2004: January - Sacked after leading side to fifth place at the Gulf Cup.
May - Joins Norwegian side Viking FK.
2005: August - Agrees to take over as boss of Finland national team.
2007: November 30 - Quits after failing to secure qualification for Euro 2008, and is immediately linked with Republic of Ireland vacancy.
December 30 - Appointed Fulham manager.
2008: Fulham win four of their last five Premier League games of the season to stave off relegation.
2009: After overhauling the squad in pre-season, guides the Cottagers to their highest ever top-flight finish, seventh, and ensures Europa League qualification.
2010: March 18 - Oversees a stunning second-leg comeback against Juventus in the Europa League quarter-final as a 4-1 win takes Fulham into the quarter-finals 5-4 on aggregate.
April: Having seen off Wolfsburg in the quarter-finals, guides them into the final as they draw 0-0 in Hamburg, winning the second leg 2-1 at Craven Cottage.
May 12 - Hodgson's side lose 2-1 to Atletico Madrid in extra time in the Europa League final in Hamburg.
July 1 - Announced as new manager of Liverpool on a three-year contract.
