Former Liverpool midfielder Dietmar Hamann believes that this summer is vital if the club are to propel themselves back into Champions League contention.
The German said that every year the Reds do not qualify for Europe's elite competition, the further they fall from grace.
"It's a worrying time for Liverpool - the most important summer for them," The Mirror quotes Hamann as saying. "If they don't make the right decisions, we may not see Champions League football at Anfield for the next five or 10 years, which is a very likely scenario at the moment.
"For a team like Liverpool to be out of contention in March or April - finishing 15 or 16 points behind fourth - is just not good enough. It's now three years running [that Liverpool have not finished in the Champions League places] and obviously the longer you go without any Champions League, the further you fall behind.
"Are the players going to improve that much in the second season? Maybe. Can you bring new players in? Not sure how much money you've got to spend. But the improvement has got to come from somewhere, because the teams that finished 15 points ahead of you, they'll be spending £30m in the summer."
Hamann played for Liverpool between 1999 and 2006.
