Brendan Rodgers and Liverpool will use the upcoming summer transfer window to build upon an excellent 2013-14 Premier League campaign that saw the team rise back to the top of English football.
The squad is young and talented, but fresh blood will be needed to deal with the added strain of Champions League football.
Let's round up the latest transfer news coming out of Anfield.
The Atomic Ant has failed to fit into Juventus' preferred 3-5-2 system and is widely expected to leave Turin during the summer, as his contract will expire next season. His agent, Andrea D'Amico, told Calcionews24.com interest in his client is high, as reported by The Express' Ben Jefferson:
I am not surprised that Arsenal and Tottenham are being linked, considering the quality of Arsene Wenger's choices and the fine level of Tottenham's squad.
However, they are not the only clubs. Olympiakos, Monaco and Liverpool? There are many other teams, as Giovinco is appreciated everywhere.
Before anything we'll talk to Juventus and then we'll see.
The prototypical winger, fans have been waiting for the pint-sized Italian to make his mark for the Bianconeri, but Antonio Conte's continued reliance on the 3-5-2 has made that impossible. His form at Parma was promising, however, and his agent even claimed Barcelona were interested in the player in 2012, per Goal.com's Luis Mira.
Giovinco's performances for the Italian national team have been only marginally better than the ones he put in for Juventus, and, at the age of 27, one has to wonder whether the winger will ever live up to expectations.
He has always struggled with physical defenders and is known to have a bit of a short fuse, so the Premier League would seem like a bad fit.
The Italian international won't be interested in moving from one bench to another, and it would appear little more would be in store for him at Anfield. A move to Olympiacos or even Monaco would make more sense, so don't expect Rodgers to waste resources on the player.
Swansea's Bony has been identified as a main target for Liverpool by Metro, who claim the Reds are ready to launch an £18million offer ahead of the upcoming World Cup:
Arsenal and Bayern Munich are monitoring his progress, but Liverpool are ready to move first by making a £18million offer.
According to reports, the bid will go in before the World Cup begins in Brazil, where Bony will be representing the Ivory Coast.
Swansea have previously dismissed claims that Bony could be sold, but the striker has made it clear he wants to play in the Champions League.
Bony only moved to Wales last season, but the Ivorian has made his desire to play Champions League football clear in recent weeks, via Mr Transfer News:
Though he scored on his Premier League debut, the player took some time to adapt following his move from the Eredivisie before showing his potential in the second part of the season, and his profile could open up Liverpool's offensive game tremendously.
His power and pace are tailor-made for a 4-3-3 system, and his ability would offer the Reds another dimension up front.
Fitting the forward into a team already containing Luis Suarez will be a challenge, but Rodgers' tactical insights and Suarez's versatility should lead to a quick solution that would benefit the Reds' offense greatly.
Liverpool will most likely have to overpay to pry the player away from Swansea, but the Welsh outfit don't have the resources to compete with a club headed for the Champions League. If the striker wants the move, a deal could be on the cards in the near future.
The German midfielder enjoyed quite the break-out season with Bayer Leverkusen, and The Telegraph's Chris Bascombe has learned Liverpool are ready to activate the player's buy-out clause this summer to stop Bayern Munich from recruiting the player through their own buy-back clause next season:
Liverpool are closing in on a £12 million deal for Bayer Leverkusen midfielder Emre Can. Brendan Rodgers is hoping to secure Can as his first signing of an active summer in the transfer market.
Can, who plays for Germany under-21s but is of Turkish descent, has a clause in his contract that Liverpool are ready to activate and it is understood talks have advanced significantly in the last few days.
The 20-year-old moved to Leverkusen, formerly managed by ex-Liverpool captain Sami Hyypia, last season from Bayern Munich for just £4.5 million. Munich placed a buy-back clause of their own but that can not be activated until next summer.
Identifying Can’s potential, Liverpool believe the temptation to move to the Premier League and steal a march on the Bundesliga champions. That would represent quite a coup for Rodgers, recruiting a player tipped to be a future star of German football
Can is the perfect example of the modern German box-to-box midfielder, in a similar mold to Lars Bender or Bastian Schweinsteiger. Combining a strong work rate with solid vision, technique on the ball and an impressive physique, the sky could be the limit for the German under-21 international.
The main concern with Can is that most of his appeal at this point lies in his potential, not the finished product on the pitch. Jan Aage Fjortoft likes Can, but thinks there are better young options currently playing in the Bundesliga:
A strong presence in midfield is a need for Liverpool, but Can might not be able to fill that need immediately, as he will need time to grow into the player everybody hopes he can become.
The mark of a good manager is recognising talent, however, and if Rodgers thinks his potential is good enough to warrant a transfer bid, a £12 million move could prove to be a steal several years down the line.
Any move for Can would hold a certain risk, and the player may not be able to contribute right away. But, with the added funds of the Champions League and a clear need in the centre of the pitch, Liverpool can afford to take a chance on the Bayer Leverkusen star.