True, but its all relative to other teams spending power. Liverpool may have broken the British transfer record, but at the same time so were Nottingham Forest, Man City, Wolves, Man Utd. Other big teams of the era. These days, Chelsea are in a league of their own. They can spend £17 million on Duff and then sell him to Newcastle 3 years later with a £12 million loss and with no effect on their finances. In the past, clubs may have spent big, but there have always been consequences if it went wrong.