LIVERPOOL -- Liverpool's new CEO Peter Moore says the club have "tremendous resources" available, but added that they will continue to spend "smartly" in the transfer market.
Moore, a lifelong Liverpool supporter and former chief competition officer at EA Sports, starts working at the club on June 1, filling the post vacated by Ian Ayre.
He arrives at Liverpool with the club in a healthy financial position following the opening of the new Main Stand at Anfield, a lucrative Premier League TV deal and Jurgen Klopp's side securing Champions League qualification with a fourth-placed finish this season.
But for the most part in recent years, Liverpool's competitive rivals -- both domestically and across Europe -- have continued to outspend and outperform the club on the pitch and in recruitment of players.
However, Moore says Liverpool have the backing to compete with the game's biggest clubs.
"This is not about if Chelsea spend a pound then we have to spend a pound regardless of the quality of the player we're looking at," he told reporters at Anfield in his first meeting with the media as Liverpool CEO.
"This is what I've done for 40 years. You look at a budget and what capital expenditure you can afford, which is going and buying something, writing a cheque for something, and then you look at your OPEX [operating expense], which is the paying for the upkeep of the asset, let's say those assets are players here.
"This is less about an arms race for spending as much money as we can, it's more about spending smartly. There are tremendous resources that are available for this club here. Our focus is to buy the right players, get the right value, strengthen the squad.
"Hopefully we've got a long season of European football ahead of us and, as such, that squad needs to be built to be able to take that on accordingly, particularly with the style of football we play."
After an organisational restructure at Liverpool over the past year, the identification and pursuit of players is managed by Klopp and sporting director Michael Edwards, with Moore being kept abreast of transfer dealings, sources have told ESPN FC.
Moore will take control of off-the-field interests, allowing for Klopp to focus solely on football matters.
His appointment will be welcomed by the Liverpool manager, who, sources have told ESPN FC, had been under stress at being the sole face of the club since Ayre departed at the end of February.
"He made a point that it was taxing on him to be the face of the club," Moore said. "My job is to let him focus on what's on the pitch and then let me take responsibility for what's off the pitch and be the face of the club where it's appropriate.
"Jurgen is still going to do all his news conferences -- and there'll be a lot more of them hopefully next season -- but I want him to do what Jurgen Klopp does better than any other manager in the world in my estimation, which is to build and motivate a world-class team."
Sources have told ESPN FC that Moore was approached by Liverpool's owners, Fenway Sports Group (FSG), about heading the club before Ayre took the job, but turned it down because he felt the opportunity came too soon.
FSG came knocking again and, after an extensive recruitment process, which featured numerous two-hour long telephone calls and talks when Liverpool were on their preseason tour to the United States in July 2016, Moore accepted the CEO role after a five-hour meeting with principal owner John. W Henry at Chicago O'Hare International Airport.
"My objectives have been set to build upon what my predecessor did so brilliantly," Moore added. "We've got to continue this improvement on the pitch, improvement off the pitch. We're a world-class football club, we act like it, we're a tremendous family -- both here in Merseyside, as well as anywhere in the world.
"We've clearly got to build upon: how do we improve our infrastructure, how do we improve the Anfield experience, what are we doing with Melwood and Kirkby? I can get into a little bit more of specifics once I've actually started on the job, but the clear business goal is to continue improvement."
FSG president Mike Gordon added: "Finding an individual with the experience and gravitas to lead a unique organisation like Liverpool Football Club is no easy task, but in Peter Moore we believe we have the ideal person. It was critical to identify someone who could complement the extraordinary talent we have in our football leadership operation."