LIVERPOOL, United Kingdom (AFP) — Liverpool boss Arne Slot said his side is conceding too often after losing the Community Shield on penalties to Crystal Palace on Sunday.

The new-look Reds, following a £260-million (US$350-million) spending spree in the transfer market, looked slick in attack at Wembley with new signings Hugo Ekitike and Jeremie Frimpong on target.

However, the Premier League champions twice failed to hold onto the lead as Palace levelled through Jean-Philippe Mateta’s penalty and Ismaila Sarr’s strike 13 minutes from time as the match ended 2-2 before the shoot-out.

Last season Liverpool beat Palace 1-0 at Selhurst Park and drew 1-1 on the final day of the season at Anfield, as they romped to the title with four games to spare.

Slot saw flashes of what his star-studded forward line are capable of as the most expensive of his new recruits, Florian Wirtz, teed up Ekitike for the opening goal after just four minutes.

However, in keeping with the pattern of Liverpool’s preseason friendlies, they were cut open with ease on the counter-attack.

AC Milan beat Slot’s men 4-2 in Hong Kong while Liverpool edged out Athletic Bilbao 3-2 in one of two friendlies against the Basques on their return to Anfield on Monday.

“If you look at our attacking play against a team that is so compact, that might be a bit better than last season,” said Slot.

“We only could score one goal against Palace [last season]. Now we scored two and created more against them.

“But, on the other hand, we conceded two goals — which we did against Bilbao — and we conceded a couple more against Milan, so that is something we need to do better.”

Only Arsenal had a better defensive record than Liverpool in the Premier League last season, and Slot is keen to rectify his side’s issues before they begin their title defence at home to Bournemouth on Friday.

“We are able to create more but we are conceding at the moment more as well. If you want to compete to win the league you cannot concede these chances.

“We conceded too much today to win the game.”

And Liverpool’s spending in the transfer market may not be over as they continue to be linked with a move for Newcastle striker Alexander Isak.

However, Slot dismissed the claim that the transfer spending will put his players under more pressure this season.

“Because we are Liverpool the pressure is always on,” he said. “That is nothing to do with bringing players in.”

SLOT… if you want to compete to win the league you cannot concede these chances