Robbie Fowler hopes that the arrival of Mohamed Salah at Liverpool is just the start, with more quality additions required.
The Reds have moved early to spend big, with their transfer record broken to bring former Chelsea forward Salah back to England from Roma.
His arrival has been well received, as a proven talent in the final third of the field, but more moves are expected.
Fowler believes Jurgen Klopp will be given further funds to spend, with the likes of Southampton defender Virgil van Dijk considered to be the “big statement” signings that the club need to be making if they are to mount a Premier League title challenge.
The legendary former Liverpool striker wrote in a column for the Daily Mirror: “I’ll be blunt about it - everyone in football knows Jurgen Klopp’s first XI is as good as any, there is no denying that. But beyond the team, the squad is a bit threadbare.
“I won’t say weak, because that’s an injustice to the lads in the squad, but the reality is, to challenge for the title they need to sign more players who can take them up to that next level.
“They are close. I really feel that. But with all their main rivals spending big money, they have to be perfect in the transfer market this summer or it will be another spectacular lost opportunity.
“They haven’t spent much money in the past few seasons, just broke even really. Now they have gone out and spent a club record fee on Mohamed Salah, and then immediately made clear that is not the sum of their ambition.
“Salah is a good start. To me, he looks like a signing where they’ve listened to what the manager wants, and actually gone out and signed that type of player. He looks to have all the assets that are perfect for Klopp’s system, which is a good start. Now for the rest.
“Virgil van Dijk would be a big statement, especially after the, shall we say, ‘misunderstanding’ earlier in the summer. If they could pull it off now, it would be huge.”
Liverpool are being linked with several high-profile players, with Monaco’s in-demand teenage frontman Kylian Mbappe among them.
Fowler said on the transfer gossip: “I know there has been criticism for the apparent interest in Kylian Mbappe. Of course Real Madrid are going to be overwhelming favourites to sign him, but even if it’s a massive long shot it sends out a message Liverpool are serious.
“I think in the past few summers, they’ve been hamstrung by the lack of Champions’ League football. Look at how many players they’ve been in for, only to see then go to another club. It’s such a tough world now, and you need to offer every edge.
“Now they’ve got it, and the way they are offering an alternative destination if Mbappe doesn’t want to go to Madrid shows they have the money to back up their mouth.
“What they have to do is translate that into signings who will make a difference. Of course Mbappe would, but being realistic, they need a centre half, maybe a full back or two, and more strength in midfield.”