Liverpool legend Kenny Dalglish has left a big hole in the club's accounts.

The London Evening Standard says Liverpool released their accounts for August 1 2011 to last May, which showed the club spent £9.6m on axing Dalglish, his staff and others.

The club legend's second spell in charge also proved very costly in terms of transfers as big spending in the summer of 2011 fuelled the losses.

In particular, significant instalments on the transfers of Jordan Henderson, who cost £16m from Sunderland, and Stewart Downing (above), a £20m buy from Aston Villa, were paid.

As a result, they recorded a heavy loss on turnover of £169m, sending overall debt up by £22m to £87.2m.