Kenny Dalglish knows Liverpool may find it difficult to win the title this season but believes the squad is "a lot stronger" than last season.
Dalglish revitalised the Reds after taking over in January and Fenway Sports Group owner John Henry spoke on Twitter on Friday to express a sense of optimism about the season ahead.
"Opening day tomorrow in Liverpool. What a difference a year makes," Henry tweeted. "A year ago this month Joe wrote 'Save my club!' 'What club?' Well, we haven't saved anything yet, just set a new course in the deep waters of English football. We feel very, very fortunate to be here."
Liverpool have invested heavily in the squad this summer, bringing in Jordan Henderson, Stewart Downing, Charlie Adam, Doni and Jose Enrique, and Dalglish has paid tribute to Fenway Sports Group for those signings.
"Our owners deserve great credit and I'm really excited about the season ahead," Dalglish said. "We didn't pay over the odds for anybody, in my opinion, and we are not going to scream to get more money from the owners.
"We can talk to them and if they say yes, then we can try and get them. If they say no, we're pleased with the support they've already given us."
However, although Dalglish believes the squad is significantly better than the one that finished sixth last season, he refused to raise expectations the team can lift the title for the first time in the Premier League era.
"The five guys we've brought in have strengthened the quality and improved the depth of the squad, and we are a lot stronger than last year," he said.
"You need to win a lot of games to win a championship, but you don't need to win as many to lift a cup, so we will just focus on getting as many positive results as we can."
Meanwhile, Christian Poulsen has indicated that he wants to leave Liverpool to secure first-team football.
"My future needs to be resolved in August and preferably as soon as possible," Poulsen told TV2. "I have to get to play matches regularly. It's obvious that I would really like to play football."