Liverpool chief executive Ian Ayre is adamant that the club can still bring in top-quality players with a "smart and sustainable" financial model.
The Reds have spent big already this summer to land Roberto Firmino from Hoffenheim for £29.5m and England international Nathaniel Clyne for £12m.
Ayre has insisted that the Reds have to be aware of their financial situation when bidding for further players, but is optimistic of more additions in the future.
He told The Manager magazine. "I stood on the Kop for many years as a fan, and like everyone else I'd love to buy all the greatest players, regardless of price. But, as we saw under the club's previous ownership, things can all go very wrong financially; then people will hold you accountable for not running the club in the right way.
"You can't work that way. You have to have a very detailed, thought-out plan and ensure everyone buys into it and adheres to it. It doesn't mean we are not investing in or buying good players; we are just doing it in a smart and sustainable way.
"We may not be competing in the Champions League this year but we are still making progress as a club and continuing to add quality to our squad. We are also improving financially, which means that as we go forward with the plan we will have more resources and will be able to invest more than we have in the past."
Liverpool are reportedly eyeing a move to sign Aston Villa striker Christian Benteke.
