Liverpool legend Graeme Souness has big fears for the future of his old club.

Souness, who won five league titles, three European Cups and four League Cups in his seven-year stay at Anfield, reckons the decisions Liverpool make in the next three months may well define their next 25 years.

Speaking with the Daily Star Sunday, Souness said: "That's how critical the current situation is for the club.

"Right now it sits teetering on arguably the most crucial tipping point of its entire history and I fear for its very future.

"The bigger picture is finding new owners who can put the club back on a sound financial footing but it's also crucial they find a safe pair of hands to take over the team from Rafa Benitez."

Souness warned: "Who the club would like and who they'll end up getting could be two very different things.

"For the first time since the Bill Shankly era, the Liverpool hot-seat isn't a job that all the big managers would want. In fact, most of them wouldn't touch it.

"The club is in debt, their squad of players is poor, they don't have a major stadium, they won't be playing Champions League football next year and there's no guarantee that Steven Gerrard and Fernando Torres won't leave this summer."