John W. Henry challenged Kenny Dalglish to back the club's investment in the transfer market with qualification for the Champions League this season, as Liverpool's defensive woes continued in a 3-3 draw with Valarenga in Oslo, Norway.
The Liverpool owner watched from the stands as two summer signings, Stewart Downing and Jordan Henderson, made their pre-season debuts.
Dalglish also gave run-outs to Pepe Reina, Andy Carroll and Glen Johnson but a slow start from the visitors saw Valarenga go 2-0 up inside twenty minutes.
Lars Iver Strand took advantage of a static Liverpool defence to give the hosts the lead, before Fegor Ogude's penalty doubled their advantage.
There was a hint of hand-ball as Andy Caroll pulled one back, then a Daniel Agger brace put Dalglish's side ahead. But Mohammed Fellah's stunning injury-time strike ensured Liverpool have conceded three goals in each of their five pre-season matches.
After the match, club owner John Henry admitted anything other than Champions League qualification would be a major disappointment next season.
"It's too early for us to start talking about winning the league," he said.
"In my opinion Manchester United are the ones to beat. They have a good squad, and look really good.
"Our main goal is to qualify for the Champions League. If we don't it would be a major disappointment."