Liverpool risk losing Luis Suarez and Martin Skrtel due to cost cuts.

The Sunday Mirror says Fenway Sports Group believe that an ­extended period of austerity is the only way to balance the books following Liverpool's failure to qualify for the Champions League for a third successive season.

It means the transfer budget will be slashed - a move that won't impress Suarez and Skrtel when they open talks about new contracts this summer.

Suarez has been targeted by Italian champions Juventus and their rivals AC Milan- and has admitted that he would like to experience life in Italy or Spain - while player-of-the-season Skrtel is wanted by Fiorentina.