THE SEARCH FOR investment at Liverpool has assumed greater urgency amid revelations that Rafael Benítez is attracting interest from Real Madrid and Inter Milan, with the Anfield hierarchy fearful that the European Cup-winning manager might consider his future if his long-term ambitions continue to be thwarted by financial constraints.

Liverpool resent suggestions that they have failed to support Benítez in the transfer market since his appointment in June 2004, having sanctioned deals in the region of £50 million over that time despite a difficult financial climate, but the club are aware of a disparity between their budget and the Spaniard’s shopping list for this summer, when he believes that a top-class centre forward and right winger must be bought if they are to challenge Chelsea’s dominance in the Barclays Premiership.

Securing new investment has been a priority for the past three years, particularly with a view to helping to finance the proposed £160 million move to a new stadium on nearby Stanley Park. But, despite interest from consortiums in Asia and more recent discussions with one of the richest families in the United States — not to mention talks far closer to home with Steve Morgan, the founder of the Redrow property empire — no agreement has been reached, creating uncertainty not only about the stadium project but also about the club’s ability to compete with Chelsea, Manchester United and others in the transfer market.

Morgan warned at the club’s recent annual meeting that “it is imperative that we get the investment issue sorted out” and the board are fully aware of the urgency.

“The additional finance needed is recognised,” Keith Clayton, a director, said at the meeting. “We do appreciate that this has gone on for a long time, but these are some of the most critical decisions in the club’s history. It’s important that we get these talks right, rather than rush them. Progress is being made.”

Progress, though, has not been anything like as quick as Liverpool had hoped. Rick Parry, the chief executive, was encouraged after speaking to members of the Kraft family in New England in Novem-ber, but they are understood to have cooled on the idea of investing in the club since that meeting. Other avenues are being explored, but it is not thought that any significant developments are imminent.

Benítez has been appreciative of the club’s financial stance to date and has even at times urged the board not to overspend on players he has targeted, but there are signs that his patience may be stretched if the situation continues. With Real and Inter having made their intentions known — presumably to his agent, Manuel García Quilón, who admitted a week ago that he was aware of interest from the Spanish club — Benítez does at least have options. However, García Quilón has been quoted as saying that “Rafa will see out his contract at Liverpool (until 2009). He loves it there.”

The immediate priority for Benítez is reaching the Champions League quarter- finals by overturning a 1-0 first-leg deficit to Benfica at Anfield on Wednesday, when, Steven Gerrard admits, they will need to be far more ruthless in front of goal than in the 0-0 draw at home to Charlton Athletic on Saturday. “It was frustrating,” the captain said. “We had all the possession but we couldn’t quite make that breakthrough. We ’ve definitely got goalscorers in the squad. I’m sure it is only a matter of time before the goals start going in.

“I don’t think that because we haven’t scored against Charlton it will have an effect on what happens on Wednesday. I’m sure we’ll find a higher tempo.”

The good news for Benítez is that a scan yesterday revealed that Sami Hyypia’s hamstring problem, which forced him off at half-time against Charlton, is not serious. The Finland defender should return to training tomorrow and be fit to face Benfica.

MICCOLI MARKER

BENFICA RECEIVED A boost before the Champions League first knockout round second-leg match against Liverpool on Wednesday after winning 2-1 away to Estrela Amadora. Fabrizio Miccoli, the Italian striker returning after seven weeks out, scored the winner three minutes into stoppage time on Saturday. Laurent Robert had earlier levelled for the champions, whose win moved them into third place in the Portuguese Premier League. Paulo Machado’s free kick had put Estrela Amadora ahead after 31 minutes.

GARY JACOB