New Liverpool owner John Henry admits that the current situation of the club is simply 'unacceptable'.
Following the club's 3-1 loss to Newcastle United on Saturday, Henry and chairman Tom Werner took part in a 90-minute live phone-in on the club's official television station, along with commercial director Ian Ayre.
Henry was straightforward in his description of the position the Reds find themselves in whilst Werner preferred to keep the faith, saying that manager Roy Hodgson needs to be given time.
"There is no doubt about it that this season and the last half of last season was unacceptable for Liverpool," Henry said.
"Over the last two years there have been some short-term decisions that have really hurt the club. It's up to us to help turn the tide and move on. We have to be patient."
Werner added: 'We feel like we just got here.
"Roy got here shortly before us. You can see that nobody - least of all Roy - is happy. We all know we have to perform better, especially on the road.
"But then I heard that under Rafa Benitez we won only one in 2010 on the road. We believe in what Roy is doing and we certainly feel like the performance has to improve. He would be the first to agree with that."
