Purslow: No Liverpool panic over Champions League exit

Liverpool's board have given manager Rafa Benitez a resounding vote of confidence after their Champions League failure last night.

Despite the bitter blow of crashing out, and the financial implications, Benitez was given a rousing endorsement by managing director Christian Purslow.

Liverpool will be £2.6million out of pocket, after budgeting for reaching the first knock-out round, but Purslow declared: "Tonight I'm delighted really at the positive signs. We should have won by a lot more.

"We've got players coming back from injury and it's really important our fans understand that we've got some heroes out there, doing it on the park in the past few games, half-fit or on painkilling jabs to do a job for our club.

"I came more in hope than expectation, but I'm very sad because things didn't go for us, but the die was cast with two late goals against Lyon. Those are the fine margins in football.

"We have turned a corner in terms of the injuries, and the performance was evidence of that. It sets us up nicely for a really big game on Sunday, which we go into in a positive frame of mind.

"We budget for a level of performance that maybe fans would not like to be at, but it's prudent, if we have three home games in the Europa League, we are at the equivalent to what we budget for in the Champions League.

"It's a missed opportunity, financially, but it has no effect on budgeted performance, and that's the key thing. Budget prudently and then you don't get negative surprises if football doesn't go the right way.

"This has no bearing on Rafa whatsoever. He signed a new five-year deal four months ago and in those terms he is four months into a five-year journey.

"You don't deviate from long-term plans for people and the way to take the club to the next level because of two late goals against Lyon, and that's what it boils down to."