Bayern Munich coach Jurgen Klinsmann has questioned the futures of Chelsea and Liverpool.

He said: "We could see major changes in European football over the next few years. You never know how long the investors will stay loyal to their clubs.

"What will happen to Liverpool with the two Americans sharing the club? And to Chelsea, who are firing more and more people?"

Klinsmann, who has even been interviewed by Tom Hicks and George Gillett for the Liverpool hot-seat and by Peter Kenyon for the Chelsea job in the past 18 months, seems to have been left unimpressed by the financial structures at those clubs.

"The effects of the financial crisis will start to be felt in the next few months," he added. "Russian or English clubs, where major investors play a crucial role, along with the financial situation in Spain, with Valencia on the brink, show that things are changing and we will see a redefinition of football."