Liverpool manager Roy Hodgson has urged the club's new owners to give him more time to complete "the major job" of rebuilding the Premier League club.
Hodgson goes into Sunday's Merseyside derby against Everton with Liverpool languishing in the relegation zone but buoyed by the news that NESV's £300 million takeover has "lifted a cloud" from the club.
The former Fulham manager, who assumed the Anfield hot seat in the summer and has overseen Liverpool's worst start to a season for 57 years, knows he must start delivering on the pitch and has already spoken to new owner John W Henry.
"I don't think there's any need to talk about my position at the club, but he did back me," Hodgson said. "He said he was looking forward to working with me."
Liverpool were booed off the pitch in their last Premier League match before the international break - a shock home defeat by Blackpool that left the fans chanting for one-time Reds boss Kenny Dalglish to resume control - but Hodgson is certain he is still the man for the job.
"I know I can turn it around but I need the patience and support to do it," Hodgson said. "My appointment was not taken lightly. I knew this was going to be a difficult job but I think it's a very sad day for everyone if, after a bad spell of six or seven games, people think the solution is to find someone else.
"The magic wand doesn't exist. I would be disappointed if after such a short space of time they decided to get someone else in. All clubs need stability - managers and players as well - but that is becoming a very hard thing to find."
"At my age  and with all the years I've spent in football, a quiet, more tranquil start to the beginning of my work at this great club would have been very desirable. I've not had this, partly because of the ownership issues but partly because we've got six points from seven games and we lost at home to Blackpool.
"Nothing I can say can put a positive complexion on that. What I can put a positive spin on is how the great interest in Liverpool over the last two weeks shows how important the club is to so many people. If anything, I am even prouder to be Liverpool manager now because I know the importance of the job I've taken on. I won't do it overnight but if with new owners we can turn this around, it will be a wonderful feeling."
Hodgson signed a three-year contract when replaced Rafa Benitez as Liverpool manager ahead of a number of candidates, including Dalglish, in June but has presided over just one win - a 1-0 victory against newly-promoted West Brom at Anfield - in seven Premier League games.