With the team struggling in the Premier League and many of last summer's signings struggling to make an impression at Anfield, Liverpool are widely expected to reenter the transfer market in a significant way come the season's conclusion.
One of the players linked as a target for the Merseysiders as they look to improve the squad for next season is Lazio midfielder Hernanes. According to a report in the Daily Mail on Tuesday, the Brazilian has been watched by scouts from Anfield, as well as those from Premier League rivals Arsenal and Tottenham.
The 27-year-old has been a success since his move to Rome from Sao Paulo, following up his 11 goals in Serie A last season, with eight so far this term. Yet Lazio boss Edy Reja has continually substituted Hernanes in games, prompting talk that he could be sold in the summer.
If the North London clubs do pursue Hernanes then it will be difficult for Liverpool to get their man with at least one of Arsenal or Tottenham likely to be able to offer Champions League soccer.
It is also difficult to see how Hernanes would fit into the current Liverpool side, with Steven Gerrard and Luis Suarez likely to be operating in similar areas as the Brazilian.
A better fit for the Liverpool side would be Manchester City winger Adam Johnson, with whom the club have been linked by Caught Offside.
Although Johnson is naturally left-footed, he has featured primarily on the right, a position needing to be filled at Liverpool, with Jordan Henderson and Dirk Kuyt failing to convince.
If he does sign, then Johnson would link up with his former Middlesbrough team mate Stewart Downing. One stumbling block to any transfer, though, could be the 24-year-old's hefty salary, meaning a loan move is more likely.
Caught Offside has also once again speculated that Liverpool are looking to pursue a move for another Manchester City player, Emmanuel Adebayor. The striker has impressed on-loan at Tottenham this season, but, again, his bumper wage packet would be a big obstacle to any permanent deal.
With strengthening the offense likely to be a priority at Anfield this summer, the club are going to step up their interest in Dutch striker Ricky van Wolfswinkel, according to the Metro. The Sporting Lisbon striker has scored 14 goals this season and had recently talked up a move to the Premier League.
The Metro also reports that Manchester United and Newcastle are interested in the 23 year old, however.
Funds for a new striker at Anfield could be bolstered by the sale of Andy Carroll, who has failed to live up to his $55 million price tag since joining in January 2011. The Daily Mirror has reported in the past few days that Carroll has told friends that he would be open to a move back to former club Newcastle.
It is hard to see that there is any truth to this speculation and it would be difficult to envisage Carroll moving back to the North East so soon. If Liverpool were to let the striker leave now they would take a massive hit on their investment. The best solution for both parties, if Carroll's form fails to improve soon, is for a loan move to either boost his confidence for a return to the Liverpool side or to boost his value for a permanent transfer away.
Finally in this latest Liverpool transfer news roundup, the club is said to have been put on alert by Argentinian target Lucas Biglia's reported availability, according to TalkSport.
The report refers to a story in Belgian newspaper La Derniere Heure, which claims that Biglia's club Anderlecht will consider offers of around 15 million (24m) for the midfielder in the summer.