Former striker Michael Owen believes Liverpool will have to do a "little bit of surgery" on the squad this summer but finding a replacement for the departing Mohamed Salah is the obvious priority.
Veteran duo Salah and Andy Robertson will leave at the end of the season while the future of goalkeeper Alisson Becker remains in doubt, with reports in Italy claiming personal terms have already been agreed with Juventus.
Arne Slot's squad needs strengthening at right-back, central midfield and up front but after a £450 million outlay last summer, Owen questioned whether there was much left in reserve.
"They are going to have to do only a little bit of surgery on the team; they have spent a fortune [last year]," he told talkSPORT.
"I know they recouped a lot of money last year [around £260m] but they spent a lot of it and I doubt they have any left to spend again but they are going to have to replace Salah, that's the first port of call.
"There's no one in the team currently who is like Salah, a right-sided attacker. There are plenty of options going forward but none on the right side."
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The future of Alisson is not the only subject of debate, with midfielder Curtis Jones continuing to be linked with Inter Milan, who tried to sign him in January.
Former Italy forward Antonio Cassano believes if the 25-year-old academy graduate does decide to leave then the Serie A champions would be an ideal option.
"Curtis Jones for Inter? He would be an excellent signing. He's a pacy midfielder. He's a Champions League-oriented player. He'd be better than [Scott] McTominay," he told the Viva El Futbol podcast.
Alexander Isak, Alisson, Ibrahima Konaté and Salah were all absent from training on Wednesday.
Isak missed Sunday's defeat by Manchester United with a minor groin problem and while Slot said last Friday Alisson was close to a return from a hamstring injury, he was not featured in photographs released by the club.
Salah is also recovering from a hamstring injury, although he is confident he will return before the final game of the season at home to Brentford, but the reason for Konate's absence remains undisclosed.