Liverpool legend Steve Nicol has slammed the club's owners over their FA Cup exit at Wolves on Monday night.

With Liverpool suffering Champions League, Europa League, League Cup and FA Cup Final defeats since FSG bought the club in 2010, it leaves the 2012 League Cup as both the Reds' last trophy and only silverware of the American group's Anfield stewardship.

Nicol told ESPN FC: “For the big teams, particularly in England, it's about the Premier League and Champions League.

“Let's not forget, that Kenny Dalglish got the sack after winning silverware at Liverpool, and losing the FA Cup final. So, work that one out.

“So the owners want the Premier League and the Champions League clearly.

“If Jurgen Klopp doesn't want to sacrifice anybody in order to win the Premier League or the Champions League then he's going to do what he did the other night and play what, three first team [players]?"

Nicol accused his former side of disregarding the competition as they suffered their fourth-successive third or fourth round exit under Klopp.

“Well, yes, because of the era I played in - yes I do (have a problem with domestic cups not being taken seriously).

“All the other trophies meant something, the Carabao Cup used to mean a lot.

“The FA Cup was absolutely huge, it for me was basically the player's tournament.

“But times have changed, and now it's about Premier League and Champions League."