Liverpool are already being tipped to pose a major challenge for the Premiership title in the upcoming season, after the Reds significantly strengthened their squad with the signings of Jordan Henderson, Charlie Adam, Stewart Downing and Alexander Doni, splashing in excess of £40 million in the process.
However, they don't seem likely to stop there. Despite the arrival of Adam, Valencia star Juan Mata continues to be linked to Anfield though ironing out a deal could be tough after the Spanish side's President Manuel Llorente made it clear in no uncertain terms that the player is not for sale. It comes directly in contrast to Valencia coach's admission, after the 23-year-old's impressive performance in the Under-21 European Championships.
Llorente told Superdeporte "The decision is clear and money will not change our position. Valencia will not sell to any club that wants to buy Mata."
Arsenal, Tottenham and Manchester City are also behind the player.
Having missed out on Ashley Young and Connor Wickham, Liverpool manager Kenny Dalglish is reportedly interested in capturing Wigan's 25-year-old striker Hugo Rodallega. With a view to providing healthy competition for Andy Carroll and Luis Suarez up front, a £9 million is being prepared by the Anfield legend, according to The People, as the Colombian has impressed Dalglish in general, and against Liverpool in particular.
Rodallega could also be a significant replacement to the ineffective pair of Milan Jovanovic and David Ngog, both of whom Liverpool are looking to offload.
According to the Daily Mail, Liverpool could soon be rid of Ngog as Bolton Wanderers boss Owen Coyle is believed to have Ngog on the top of his transfer list. However, a possible stumbling block could be the £3 million they are prepared which is well short of Liverpool's £6 million valuation.
Ngog, 22, who arrived at Anfield in 2008, failed to establish himself at the club and is on his way out with Sunderland also linked to the Frenchman.
Elsewhere, Liverpool's Player of the Year last year, Lucas, is subject to speculation regarding a shock exit from Anfield, as Dalglish looks to balance the books by selling off a clutter of midfielders. New signings Henderson, Adam and Downing will join Steven Gerrard, Joe Cole, Raul Meireles, Alberto Aquilani, Christian Poulsen, Maxi Rodriguez, Jonjo Shelvey, Jay Spearing and Milan Jovanovic in midfield, as Dalglish desperately looks to offload some of them.
According to The Sun, Lucas made it clear that he won't be happy on the bench, and the paper's source was quoted as saying, "Lucas only signed a new deal in March and was voted Player of the Year by the fans. But the word is he is leaving and that will shock a lot of people, especially after he played so well last season."
A report in ESPNSoccernet rubbished the link though, with their source being quoted as saying ''There is nothing to say about this. It is rubbish''.
Meanwhile, Liverpool starlet Dani Pacheco is being linked with a move to Premier League newcomers Norwich City, with whom he spent the latter part of last season on loan.
Pacheco, 20, impressed during his spell in the Championship, scoring two goals in six appearances and is desperate for regular football.
"I hoped for a lot more (at Liverpool)." Pacheco said. "Why should I deny it? I was told I was going to have opportunities. Quite simply, if they don't give me more opportunities, I am very clear I want to leave. Above all, I want to play and if I have to leave to do that then there will be no problem.
"Logically it's a disappointment to see that you don't have any playing time, but in such a situation all you can do is work and I hope to have minutes in the Under-20 World Cup to demonstrate what I am worth."