Liverpool managing director Ian Ayre believes that the club may take up to three years to get back into the Champions League.
The Reds last played in European football's top competition in the 2009-10 season and will be absent again in the next campaign.
"The expectation is to keep progressing and, of course, our ambition is to play in the Champions League," Ayre told reporters.
"This football club is steeped in the tradition of the European Cup. That's where everyone wants to be from the owners down.
"Our ambition is to get there. Whether we do that in one year, two years or three, we will see. That's where Liverpool should be."
Liverpool finished seventh in the Premier League last season in their first year under Brendan Rodgers.
