Rafael Benitez has denied responsibility for Liverpool's current woes, insisting: "It's not my fault, sorry''.
Benitez presided over a disappointing campaign in the 2009/10 season as Liverpool finished seventh. He was replaced by Roy Hodgson last summer.
Liverpool's fortunes have plummeted even further since then, however, with Hodgson sacked and replaced by Kenny Dalglish with the team currently four points above the relegation zone before today's clash with Wolves.
But Benitez, who joined Inter Milan in the summer but left before Christmas, admitted that not all of his moves in the transfer market were successful.
"I agree, so we know we made some mistakes,'' he told the BBC. "Sometimes, maybe one player is a good player and after he doesn't settle down, but if you see, we have a net spending of between 10, 12 million.
"So I think that this, for a top side...it's not big money. And still I would say to you that we are not happy with some of the signings but we are really pleased with the majority of them.
"I am not taking all the credit, I think the team is good, the problem may be the mentality. So I think Kenny can change these things and will hopefully be good for the team.
"But the other thing is that Christian Purslow (former managing director) and Hodgson, they signed seven players.
"Seven players is enough to change a squad, so you can take responsibility for signings in the past but seven players can change a squad. So you cannot continue with this story about the legacy. It's not my fault, sorry.''
Benitez believes Dalglish can turn around the club's fortunes. "They will be much better with Kenny because he knows the club, knows the fans and what they want,'' he said. "He can talk with the players and they will feel and understand what it means to be Liverpool football players.
"I feel that Kenny has been a very good appointment and hopefully will be successful.''