LIVERPOOL FC

As post-mortems go, the inquest into Liverpool's disappointing Premier League campaign has been a long, drawn-out affair to rival any political, civil or legal investigation. It's been going on since the first day of the season.

That day, Liverpool lost away to Tottenham and now, almost eight months on, the sun appears to have set on the Reds' chances of obtaining the fourth place finish that most supporters had taken for granted as they headed for White Hart Lane in the August sunshine.

Sunday's 1-1 draw at Birmingham, although not a catastrophic result in itself, leaves Rafael Benitez's men four points behind fourth-placed Manchester City, having played a game more. Tottenham, too, are three points better off in fifth place. With just five league games remaining, Liverpool will need a remarkable turnaround if they are to sneak into the Champions League spaces come the season's end.

It is a far cry from this time last season, when a run of five straight victories had catapulted the Reds into the thick of a title-race with Manchester United. Alas it was not to be for Benitez and his side but they had, it seemed, laid down a marker. 2009-2010 would see them come back stronger still.

That they haven't, that they now lie 19 points behind leaders Chelsea, having lost almost a third of their league fixtures, is some collapse. Their away form is horrendous - the Reds have been outscored on their travels by Wolves, West Ham United and Wigan Athletic. And whilst most of the fingers are pointing in the direction of a certain Spaniard, it is worth considering some of the other elements which have contributed to Liverpool's annus horribilis.
No doubt Benitez has made errors of judgement - as all managers do - but Liverpool's squad has received little of the investment lavished upon up-and-coming rivals such as Manchester City and Tottenham Hotspur. Warring co-owners George Gillett and Tom Hicks have spent most of the past two years scouring the world for buyers willing to offer a healthy return on their ill-fated investment, and Benitez's squad has undoubtedly suffered as a result.

How else do you explain the fact that, in three transfer windows since the arrival of Robbie Keane in the summer of 2008, Liverpool's net spend is actually negative? Keane departed within six months of his arrival, and has been followed by Xabi Alonso, Alvaro Arbeloa, Sami Hyypia, Andrea Dossena and Andriy Voronin. Glen Johnson and Alberto Aquilani have been brought in, but only from the proceeds of player sales - and both with carefully-structured payment plans.

Little wonder then, that Liverpool have struggled to create a squad with the depth to sustain a 50-game season. Benitez, given the choice, would surely not want to rely so heavily on the likes of David Ngog or Emiliano Insua - both of whom have come in for some hefty criticism this season - but the harsh truth is that he has had little choice. He may regret his decision to gamble on the injured Aquilani last summer, but it is too early to write the Italian off just yet.

And it should be noted that Liverpool's first eleven remains a damn sight better than its results, and performances, this term have shown. A spine containing Pepe Reina, Jamie Carragher, Javier Mascherano, Steven Gerrard and Fernando Torres, as well as the superb Daniel Agger, is as strong as most in the Premier League. But all of those players, with the exception of Reina, have struggled at various points of the season with form and fitness (or both). It is then that the back-up men have been found wanting.

Players such as Dirk Kuyt and Yossi Benayoun, for example, have failed to replicate the form which made them such valuable assets as Manchester United were run so close last spring. They may have netted 17 goals between them this season, but Liverpool's overall contribution from wide areas has been average at best. Torres' frustrations, increasingly evident of late, often stem from a lack of quality service. For that, the midfield must take responsibility.

As they must for the side's collective lack of goals - 54 in the league compared to Chelsea's 84. Torres may have 20 goals in all competitions this season, and Gerrard joined Kuyt in double figures with his strike at Birmingham, but elsewhere there has been a lack. Lucas Leiva, unfairly victimised by many, is yet to trouble the scorers this season, whilst Javier Mascherano's solitary strike came in the Europa League at Unirea Urziceni. The likes of Benayoun, Ryan Babel and Maxi Rodriguez need to add a more consistent end product to their respective talents.

Of course all is not lost at Anfield this season. There is sure to be a fantastic atmosphere when Benfica visit for their Europa League quarter-final, second-leg on Thursday, and Liverpool have a genuine chance of progression against the effervescent Portuguese side. And with both City and Spurs facing apparently trickier conclusions to their own seasons, there is still hope that Benitez's men can edge their way into the big-four cartel.

But if they don't, then fingers will be pointed. And they should point at more than just one man. Liverpool Football Club, after all, has never been about individuals.