Liverpool legend Alan Hansen believes manager Jurgen Klopp would need to spend around £200 million in the transfer market to make the club genuine Premier League title contenders again.
Klopp's time at Anfield has been characterised by the team's inconsistent form, and they are currently eighth in the Premier League table, and preparing for this Sunday's Capital One Cup final.
The German coach's predecessor, Brendan Rodgers, was backed by the club's owners, Fenway Sports Group (FSG), with a series of expensive signings. However, so far Klopp has only brought in defender Steven Caulker on loan, Red Star Belgrade midfielder Marko Grujic -- who has been loaned back until the end of the season -- and sealed a free transfer for Schalke defender Joel Matip in the summer.
Hansen, who won eight league titles and three European Cups during his 14 years at Anfield, believes that FSG will need to spend in the summer to assemble a squad their manager wants but is sceptical they will be too willing to back another big round of expensive signings.
"From what I understand Fenway Sports Group have told the manager it is not a bottomless pit," Hansen, 60, told The Independent.
"So the problem he might have is that the owners have invested so much already, will they be reluctant to do it again? They have spent a lot -- £20 million on Lazar Markovic, and then he was sent out on loan.
"You could say they need to spend £100m, but where does that get you in today's market? If they are going to have a real go it needs to be more like £200m -- but you can't just snap your fingers and solve the problem."
The two problem positions where Hansen believes Klopp will be looking for reinforcements are goalkeeper and centre-back. Current No. 1 Simon Mignolet, who signed a new long-term deal with the club in January, has come under scrutiny this season after managing eight clean sheets in 25 Premier League appearances, while central defence continues to be an issue.
"The problem with Simon Mignolet is he'll go on a good run and then a bad run," Hansen said. "But the question is whether there is anyone out there who is better. Do you give him more time?
"If you look at someone like David De Gea, when he was first at Manchester United he was called the worst goalkeeper in the world. Now he's being called the best in the world.
"The manager will have to be looking at two goalkeepers and a centre-back. But like with the goalkeeper situation I can't think of too many decent centre-backs out there.
You need a centre-back partnership to be successful and Liverpool have not had one for a number of years.
"I look at Wes Morgan and Robert Huth at Leicester and how successful they have been. That's what Liverpool miss."