Gillett: No panic spending

The expected blitz of the transfer market following Gillett and Tom Hicks' takeover of the Reds earlier this year has so far failed to materialise, amid suggestions that manager Rafael Benitez has become disillusioned with the lack of funds made available to him by the Americans.

Scroll down to read more:

So far, Bosman signing Andriy Voronin and young Brazilian Lucas Leiva are the only major new arrivals - hardly the established world-class talents the Liverpool faithful were hoping for.

But while Gillett admits he is privy to the fans' frustration, he insists the Reds regime will not be forced into any token buys.

"I sense that kind of pressure building from the media," he told The Times.

"I think the fans know that we have huge regard for Rafa. He has a number of initiatives and concepts and plans under way.

"We're not going to do something just to try to prove something. I can assure you that we are working on different things.

"What we've said and what Rafa has said was that we had a programme and he would share that with us and that we would support it.

"The first part was that we identified a number of our existing star players (Jose Reina, Jamie Carragher, Steven Gerrard and Xabi Alonso) whom Rafa wanted to sign on long-term contracts.

"That was the first step and it has been done. Now we're moving on to phase two, which is bringing players in."

Gillett insists the time to judge the club's owners will be when the summer's dealings are completed.

"For Tom and me, this really is about trying to win championships. And that takes commitment, no matter what sport," he added.

"We are pleased with Rafa and his strategy. It's not dissimilar to what he outlined to us in February.

"His belief is to look for players with the proper chemistry to enhance the team.

"We support Rafa. He has a programme under way and, as that unfolds, that will be the time for us to be judged, not now."