Liverpool manager Brendan Rodgers says he was told by the club's owners he will be able to make "top-quality" signings this summer before he committed his future to Anfield.
Rodgers, who steered Liverpool to a second-place Premier League finish with a brand of attacking football, signed a new long-term deal on Monday.
But the 41-year-old said it was important to have a frank discussion with the club's American owners about their ambitions first as he aims to boost his squad in preparation for a return to the Champions League.
"The owners have been great," Rodgers said. "They're winners themselves. We want to work it in a way that makes the club sustainable and I think we've clearly shown that it's about the top quality.
"It's also about being strategic in those signings as well, bringing in the right players. It's key for me that I can speak to the owners like that.
"The big lure will be Champions League, that's what I've found in my conversations with agents and people. The best players want to play in the big competition. That's the fight and I certainly found that last summer but we've put Liverpool back on the map.
"Everyone sees that we're going to be a threat; that we're going to go into Europe next year and we'll have no fear. We need to pay attention in terms of the teams we'll be playing against, but we'll have no fear. That's what top players want, to play in teams where they can show their talents.
"Yes, it is also about wages, but there was one player who we offered more money to than he took from the club that he went to just to play Champions League football."
Liverpool have already identified several key targets in the summer window, including Southampton midfielder Adam Lallana, Cardiff central defender Steven Caulker and Sevilla left-back Alberto Moreno.