Roy Evans admitted his delight at securing Michael Owen's signature on a long-term contract following the goalless Anfield draw with champions Arsenal. ,
He claimed it "was a reward for his progress".
The announcement of a re-negotiated new deal for Owen that will keep him at Anfield for at least five years, overshadowed Liverpool's 0-0 draw with the Double winners.
Arsenal managed to keep England's new superstar quiet, but Evans said: "We have made sure we will keep Michael here for years.
"It is a reward for the progress he has made.
"But before anyone starts throwing daft figures around, the deal is in line with the rest of the squad, we have kept things at a sensible level.
"But we are delighted he has signed for such a length of time."
On the result, Evans reckoned it was "a fair one".
He said: "Arsenal started better, we seemed too impatient to do well. But we got ourselves back into the game.
" It was a hard contest and we are delighted with the effort we are getting from the players.
"We know we can improve technically, particularly our passing.
"But they showed why they are such a dangerous side."
Arsene Wenger paid tribute to "the best back four in the world" after Arsenal had stifled the home side.
The Gunners boss said: "The defence is unbelievable.
"The average age is probably 34 or more, and they coped so well with world-class strikers like Michael Owen and Karlheinz Riedle.
"My dream would have been to have had our back four 10 years ago, but they are still so very good."
Arsenal lost captain Tony Adams to illness before the game, and Wenger said: "He was sick overnight, and we decided to send him home rather than risk playing him when he was weak.
"It meant Steve Bould came into the side, and he was excellent.
" It shows the value of a good, strong squad.
"The way this defence goes on and on is down to intelligence and motivation; you don't normally get defenders playing on at this level at their age."