Liverpool may have invested £170 million ($217m) in fresh faces but that only gives them a one-year window for Premier League title success, says Jamie Carragher, with further transfer sprees unlikely.
They are now considered to be serious contenders for the English top-flight crown, with the funds generated from the sale of Philippe Coutinho having been reinvested in a star-studded squad.
Carragher, though, has warned that Jurgen Klopp has to get things right in 2018-19 as there is no money pit at Anfield and the picture could change considerably in the space of 12 months.
The former Reds defender wrote in the Irish Independent: “Klopp has spent £170 million, but those funds came mainly from the £142m received for Philippe Coutinho last January.
“We cannot ignore that when trying to redefine Klopp as some kind of chequebook manager, or Liverpool's American owners as Roman Abramovich-style benefactors.
“It means this summer's investment is unlikely to be repeated without selling another star. I wrote last season I feared Liverpool may never win the league under Klopp due to the financial strength in Manchester.
“I also stated after Coutinho's sale that the extraordinary fee presented an opportunity - for one summer at least - to outspend the rest of the Premier League. That is the world Liverpool is in today. They have given themselves a chance by investing heavily to correct weaknesses in their line-up - a chance that will not come along regularly.”
Carragher added: “It remains to be seen how good goalkeeper Alisson is but he will be an upgrade. Naby Keita and Fabinho add midfield power, and Xherdan Shaqiri could be a shrewd acquisition backing up the strikers.
“The heavy spending to correct flaws, building on a good side, fuels the idea that this is a massive opportunity.
“But it also means that if Liverpool do not go close, they may find themselves back in familiar territory in 12 months' time, behind those who usually invest more but are rebuilding going into this campaign.
“It has been all-too-rare for Liverpool to go into the season with any likelihood of challenging, let alone winning the Premier League. That is why so many are talking about them.
“Whether they have the capacity to catch a formidable City or not - and no matter how much opposition managers speak about Klopp having to start delivering a major trophy - it is better to be part of the conversation than on the outside listening in.”