Liverpool boss Brendan Rodgers has dismissed claims that the club are unable to compete with the top Premier League sides on a financial level and remains confident that they can still attract top-class talent.
Gylfi Sigurdsson recently opted to join Tottenham over the Reds and the manager under whom he played under during a six-month loan spell at Swansea City last season.
But Rodgers has confirmed that he refused to give in to the Iceland international’s wage demands after being privy to the lesser terms accepted when his initial move to the Swans was close to completion.
"We didn't lose out [on Sigurdsson] because of not wanting to spend the money, we lost out because the manager was not prepared to move [on a wage increase]," the Reds boss told reporters.
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"There is no doubt there will be other targets and people we want to bring in but we won't lose out on wages.
"If we feel there is a player out there in the market whose value and worth can add value to what we are doing here then we will do everything we can to bring them in - no question."
Goal.com understands that the Reds are favourites to sign Daniel Sturridge and Fabio Borini of Chelsea and Roma, respectively, and Rodgers explained that the club are looking at players who can improve the club over a long-term period.
"There are many components you look at before you bring in a player - first and foremost in terms of his technical and tactical qualities," he added.
"But you are also looking at whether they can add value for many years, is he someone who is going to be short term?
"Ultimately he has to have the personality - we've seen many good players come here and haven't been able to work here but leave and become very good players again.
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"To play for Liverpool you have to be able to deal with the pressure of a worldwide institution and that you have to do your homework on.
"You have to ensure those players have the capacity and capabilities to achieve that and that is something which is a part of our recruitment strategy in relation to bringing a player in.
"When you are a player at Liverpool you are also a role model in every way. I like my players to be professional on and off the field."