The Merseysiders, despite their long and proud history, are wistfully hoping for someone to come along, wipe out £351million-worth of debt and furnish manager Roy Hodgson with a transfer war chest.

At the other end of the scale City have no such worries as they continued to be bankrolled by supremely wealthy Sheikh Mansour.

It has been estimated the owner has, with the latest £23million acquisition of James Milner, spent over £1billion taking into account his purchase of the club, transfer fees, wages and improvements to the infrastructure.

Almost two years to the day since he bought into his City project the Sheikh, a member of the Abu Dhabi ruling family, chose this occasion to make his first appearance at Eastlands to check on his investment.

He would have liked what he saw - although when you shell out the sort of sums he has you do not expect to be disappointed.

City put on a show for their generous benefactor but they also showed that, after all that investment, they can now justifiably compete for Champions League qualification and the kudos that will bring them.

It has been suggested that money, big money, promotes ambition but takes away desire as footballers are more interested in their hefty pay cheques than busting a gut for the cause.

There was no evidence to support that in a first half when City's millionaires were first to every ball, sharper in the tackle and generally quicker on their feet.

It was even reflected in their manager as Roberto Mancini was forever leaping from his bench to shout instructions.

His 62-year-old Liverpool counterpart Roy Hodgson - possibly considering he was giving away 17 years to his opposite number - remained seated for 42 minutes.

The match itself was a metaphor for the two club's recent fortunes.

While Liverpool, five times champions of Europe and with 18 league titles to their name - although not one since 1990 - have laboured under the ownership of unpopular and Americans Tom Hicks and George Gillett, City have prospered.

They have gone on a spending spree never before seen in the Barclays Premier League and it is finally starting to pay dividends.

Their first goal encapsulated that. Scored by Gareth Barry - the player Liverpool wanted to buy in 2008 only to fail to come up with a decent enough offer for Aston Villa, and the man City bought for £12million last summer without even blinking.

It was set up by new signing James Milner, long linked with the Reds but, at £23million, way beyond their price bracket.

Mancini has spent another £130million this summer while Hodgson has had to rely on two free signings in Milan Jovanovic and Joe Cole, the re-signing of former left-back Fabio Aurelio, bargain basement midfielder Christian Poulsen at £4.5million and £2.4million back-up goalkeeper Brad Jones.

City's bench for this game alone cost £89million - and that was without the injured £25million Mario Balotelli.

Four points from their first two matches against difficult opposition (they drew with Tottenham on the opening day) offers great encouragement to Mancini and his squad.

It is a different case for Hodgson, whose side conceded a last-minute equaliser to Arsenal last weekend.

The Premier League season may only be two matches old but this result may prove to be a watershed for both clubs.