The start of the new Premier League season is less than two months away, and Jurgen Klopp will have to be extremely busy in the transfer market if he is to be successful in his first full season at Anfield.
Klopp is, without doubt, one of the most talented managers around, and since taking over from Brendan Rodgers, the former Borussia Dortmund manager has already guided Liverpool to two major finals.
Despite producing some fantastic European nights at Anfield, Klopp has only really managed steady progress since taking the job in October, largely down to the squad he has inherited from Rodgers.
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Klopp's side finished eighth last season, two places worse off from the previous season under Rodgers, and Liverpool's two final defeats, especially against Sevilla in the Europa League final, underlined the need for fresh faces.
Manchester City have already completed the signing of Ilkay Gundogan for £21 million, with many more expected to follow under Pep Guardiola.
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Arsenal have also made a statement of intent by signing highly-rated Swiss international Granit Xhaka.
Jose Mourinho will undoubtedly be adding big names to a new era at Old Trafford, as will Antonio Conte at Stamford Bridge, and with last seasons title challengers Tottenham Hotspur, and big spending West Ham United also in the mix, the competition for the top four is expected to be the toughest yet.
Let's also not forget about the reigning champions Leicester City, who will also want to replicate their impressive achievement from last season.
Klopp will need to strengthen in a lot of key areas if the Reds are to get back into the Champions League, with a new centre-half and midfielder essential.
Simon Mignolet is expected to continue as Klopp's number one, and despite being a good shot stopper, Mignolet's decision making has cost his team on numerous occasions.
With Martin Skrtel expected to leave after the European Championships, Liverpool will need a better replacement, and Klopp will know he has to get this one right with Liverpool's defence being a big problem for a number of years now.
Alberto Moreno's performance in the Europa League final demonstrated the Reds' need for a new left-back, as well as more class in midfield, with James Milner and Joe Allen not good enough compared to other top clubs in the Premier League and across Europe.
Real Madrid youngster Mateo Kovacic and Portugal star William Carvalho have been linked with a move to Anfield, and you feel both players would represent a big step up in quality for Liverpool's midfield.
However, it's looking unlikely that either of them will join Liverpool this summer, so Klopp may have to look elsewhere for midfield options.
Mario Gotze has also been linked with Klopp's side after struggling to get into Bayern Munich's first eleven. The World Cup match-winner, as well as the likes of Lucas Moura and Gonzalo Higuain, who have also been linked, would add big names to a side heavily lacking in stars.
Klopp is known for getting the best out of his players, and many believe the chance to develop a weaker side was a big factor in Klopp's decision to join Liverpool. However, no manager can be successful with players lacking in real quality, and the Fenway Sports Group will need to allow Klopp to spend big money if the Reds are going to be a major force again.
Can Jurgen Klopp get Liverpool back to the top of European football? Let us know YOUR thoughts in the comment section below!