Should he have a good euro 2004 tournament, however, he would still be classed as one of the most attractive buys around. A poor tournament and twelve months down the line in a team trying to establish its identity may very well see his value decline, especially if the depression in the market continues.
It's is difficult for me to see what is in it for Liverpool to extend his contract by a solitary year, unless plans are in place for his replacement. i don't think that either of Baros or Pongolle are anywhere near ready, with Heskey gone and Cisse not arrived yet, it does leave us exposed, at best.
I know itis difficult for the club given Michael's standing, and the fact that he has insisted he will not leave on a Bosman, but it is a time when difficult decisions have to be made, a one year extention to his current deal will inevitably lead to increased media speculation in the months ahead, speculation that will not be helpful to the new manager, new players or even existing players. Resentment among fans has often come to the fore when Michael's contract has been discussed, I can't help but feel that both the club and Michael are making the 'best' of a situation neither is happy with.
I'm far from convinced that this is the best way to handle things, should it happen, I cannot help but feel it is an half-hearted move on both sides and something that is in neither's interest.
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