Liverpool manager Gerard Houllier has been handed a transfer fund of £30m to spend on new players as he attempts to re-establish the club as a significant force in English football.

Houllier has already earmarked £14m for Auxerre striker Djibril Cisse and Houllier hopesthe remainder of his fund will come from the sale of Senegal pair El-Hadji Diouf and Salif Diao, French defender Djimi Traore and England striker Emile Heskey.

Among those tipped for a move to Anfield include Cisse’s Auxerre team-mate Philippe Mexes, Nottingham Forest defender Michael Dawson and Ajax’s wing-backk Hatem Trabelsi.

Liverpool chief executive Rick Parry admits Chelsea’s riches will make it tougher for the club to attract their targets.

“Obviously Chelsea’s millions have moved the goalposts somewhat, but we are going to do everything we can to get to the top again,” Parry said.

“It will take lots of application and effort to get there and I promise there will be plenty of that.”