The window remains open and the Reds have already moved swiftly to capture several signings - so this week's Kop 10 feature examines Liverpool's most successful periods of transfer activity.
With Luis Alberto, Iago Aspas, Simon Mignolet and Kolo Toure all joining the club in recent weeks, we've dedicated our Wednesday countdown to some of the Reds' greatest buys.
More often than not, players have arrived in small groups, over a period of weeks or months, as managers have looked to revitalise or improve their squad.
Here we bring you Liverpool's Kop 10 transfer revolutions. Click the arrow below to flick through the list, and let us know what you think in the comments section below each page.
10th: Lucas, Torres, Benayoun, Babel, Skrtel and Mascherano
Between May 2007 and February 2008, Rafael Benitez brought 13 players to Liverpool as he sought to build on the Reds' second Champions League final appearance in three seasons. Lucas Leiva, Fernando Torres, Yossi Benayoun, Ryan Babel, Martin Skrtel and Javier Mascherano were among the crop.
9th: Hughes, Clemence and Hateley
In February 1967, Bill Shankly signed Emlyn Hughes, the man who would go on to lift more cups as Liverpool captain (five) than any other. In the months that followed, Shankly also added legendary 'keeper Ray Clemence and striker Tony Hateley to the ranks.
8th: Whelan and Rush
Ronnie Whelan signed for the Reds in September 1979 from Home Farm in Ireland. Then, in May 1980, the club's all-time record goalscorer, Ian Rush, walked through the doors at Melwood for the very first time.
7th: Hyypia, Smicer, Henchoz, Westerveld and Hamann
To coincide with the emergence of young talent like Michael Owen, Jamie Carragher and Steven Gerrard, the Reds recruited a raft of foreign talent that laid the foundations for success throughout the following 10 years. Gerard Houllier signed Sami Hyypia, Vladimir Smicer, Stephane Henchoz, Sander Westerveld and Didi Hamann amongst others.
6th: Heighway and Toshack
After winning the league in 1966, Shankly's Reds went seven years without a trophy. However, in the summer of 1971, he began to rebuild, and signed Steve Heighway (below) and John Toshack. Two years later, in 1973, the Reds won the league title and the UEFA Cup.
5th: Grobbelaar, Johnston, Lawrenson and Nicol
Liverpool added four new faces to their ranks during 1981 – and all four would go on to become household names. Bruce Grobbelaar and Craig Johnston (below) signed early in March and April respectively, before Mark Lawrenson and Steve Nicol arrived at Melwood later in the year.
4th: Kennedy, Neal and McDermott
Between July and November 1974, the Reds made three signings who would become stalwarts of the all-conquering sides of the late 70s and early 80s. In the space of five months, Ray Kennedy, Phil Neal and Terry McDermott all arrived.
3rd: St John and Yeats
In the summer of 1961, following his first full season in charge, Bill Shankly began to revitalise Liverpool Football Club. And the signings of Ian St John and Ron Yeats would help him transform the Reds from a mediocre Second Division outfit to one of the most feared sides in Europe.
2nd: Hansen, Dalglish and Souness
Bob Paisley responded to the loss of Kevin Keegan in the summer of 1977 by bringing in three men who would be pivotal to the dominance that would follow. Alan Hansen arrived in May, then Kenny Dalglish, before Graeme Souness signed in January 1978.
1st: Aldridge, Barnes, Beardsley and Houghton
Between January and October 1987, Kenny Dalglish pieced together one of the finest forward lines the Kop has ever witnessed. John Aldridge arrived first, before John Barnes, Peter Beardsley and Ray Houghton joined the squad - and the legendary team of '88 was born.
Stewart Downing has welcomed the increased competition for places he'll be facing this season due to Liverpool's summer transfer activity, insisting: 'It'll bring the best out of me.'
In addition to goalkeeper Simon Mignolet and defender Kolo Toure, the Reds have secured the services of Iago Aspas and Luis Alberto - both of whom will compete with the winger for a place in Brendan Rodgers' side this term.
It's a challenge Downing is familiar with at Anfield having had to force his way into the starting XI last season before going on to hold down a regular place in the team and make a total of 45 appearances.
Now he's ready to do the same this time around.
Downing told Liverpoolfc.com: "At every club, you need at least two or three players in every position to keep people on their toes, but especially at a club like this.
"We're fighting on many fronts - cup competitions and the league - so you have to be strong in every department. But competition brings the best out of players, and hopefully it will in me.
"My targets will be similar to when I got back into the team [last season] - enjoy it, work hard and play some good football like we did at the end of last season.
"If we play like that again as a team, we've got a real chance [of success]. For me personally, I've just got to keep going."
On the four new signings, Downing added: "They're nice lads. They're very quiet, but it's their first week at the club, so they're not used to the area, the lads and how we train.
"But you can see they're enjoying it."
Downing also faces a challenge on the international front this campaign as he tries to force his way into the England squad for the 2014 World Cup finals in Brazil next summer.
"It's been difficult as I've not played for England over the last year or so, but I'd love to play at the World Cup," he said.
"It's a year away and I've got a full season to get in the manager's thoughts. I'll just take every game as it comes and see what happens at the end of the year."
Liverpool returned to pre-season training on Tuesday and have since undertook double sessions each day as they aim to get into peak condition before the action gets underway in August.
Much of the players' work has been done using a ball, rather than the stereotypical laps of the training field.
Downing believes it makes a big difference.
He said: "I'm feeling good. It's been a good few days - it's been tough, but enjoyable. All the lads are enjoying it.
"We've been working with the ball, which I think is important. There's nothing worse than just running laps of the field! Using the ball is like disguised running, so the players are enjoying it more than just putting their trainers on and running about.
"You definitely get the fitness out of it - you get both the footballing bit and the fitness side. It's the perfect match."
Downing concluded: "We've had six weeks off, but the lads were all looking forward to getting back.
"There have been new signings come in and there's a bit of a buzz around the place. We can't wait to get started now and get the games underway."
Liverpool FC has once again been awarded the prestigious CommunityMark, the UK's national standard for leadership and excellence in the community.
LFC was first awarded the CommunityMark in 2009 and continues to be recognised for the positive impact it has on the city of Liverpool and overseas through its community programmes.
Organisations receive their new CommunityMark, which is endorsed by HRH the Prince of Wales, every three years, provided they successfully demonstrate the value and benefits of its community activities.
Ian Ayre, the club's managing director, said: "As a socially responsible business, we are proud of our heritage and the proactive role we play in our communities today and for the past 20 years.
"We are delighted to successfully renew our CommunityMark which is recognition for the excellent work achieved through our Foundation and the great emphasis we put throughout the club on serving our community both here in Liverpool and overseas."
LFC was presented with the CommunityMark at a gala dinner in London with the Prime Minister, David Cameron, and Business in the Community's chief executive, Stephen Howard, presenting the award to the club.
Mr Howard said: "I congratulate Liverpool FC for continuing to be part of the growing network of CommunityMark companies today.
"Business has a vital role to help create vibrant and prosperous communities. CommunityMark holders are at the heart of this movement, demonstrating an impressive commitment to identifying and responding to social needs.
"Crucially, these companies understand that excellence in community investment not only has a positive and valuable impact on society, but also creates real business benefits, and Liverpool FC continues to demonstrate this.
"We hope their example will inspire many more businesses to put responsible behaviour at the heart of how they do business."
For more information about the work done by the Liverpool FC Foundation, visit the dedicated website.
Kolo Toure has revealed that his first thought when Liverpool phoned him this summer was 'wow'.
After four seasons representing Manchester City, the two-time Premier League winner completed a free transfer to Anfield last Tuesday.
Having examined his new club and new teammates at close quarters for almost two weeks at Melwood, the 32-year-old now has high expectations for the 2013-14 campaign ahead.
"For me, it's an honour to play for Liverpool - this club is unbelievable," Toure explained to reporters gathered at the club's training complex on Wednesday.
"I've just been here for two weeks and I've seen a lot of fantastic things. I'm proud and I will give my best to this football club.
"When I had to decide, when I had the phone call from Liverpool, you can't joke with that. It's one of the biggest clubs in the Premier League. I was like, 'wow'.
"I had to take my decision straight away because at the minute Liverpool are not in the top four, but they have the history, the quality, the players and the mentality as well.
"This club is a winning club and I want to be part of history here, that's why I came - to try to build the team as far as we can, to be top four or to win a trophy.
"We just want to win trophies and want to play in the Champions League as well. There are a lot of good teams out there but with the squad we've got, we have great players and a great mentality here, we can do very well this season.
"It's going to be tough but I believe we're focused on training. Everybody is really focused, there is a lot of concentration; every player is working hard, even the young players.
"The club want to get back to the top four and want to win trophies - to be part of a team who can come back into the top four is going to be amazing. That's why I'm here.
"We believe that we can achieve that. With what I see in training every single day, the squad we've got, and the mentality and winning habits the team have, I think we can get there - definitely."
A member of the Arsenal 'Invincibles' team that navigated an entire Barclays Premier League season without defeat in 2003-04, Toure hopes his experience can help to replace the qualities lost by the retirement of Jamie Carragher.
"Of course my experience is going to be important. I know Jamie Carragher was a really important player for this football club," the Ivory Coast international added.
"He's retired now and Liverpool had to look for somebody who can replace him. I'm the one and it's a big honour, personally.
"To be chosen to replace Jamie Carragher is unbelievable because he has been a fantastic player for this football club, he was a great leader. What I will try to do is not going to be easy, but I will do my best.
"Coming to Liverpool was really important. At City in the last two years, I haven't played a lot of games.
"Being there four years, two were very good and the last two years were much more difficult. But I'm joining one of the best clubs in the Premier League.
"My time at City was great, with the fans and the people at the club. I still have a lot of friends there. It's a new challenge now, a new team and I just want to give my best for Liverpool.
"I wanted to join Liverpool because of course I want to play more games. The competition is tough, there are some good defenders here, we all need to fight for our place - I'm willing to do that.
"Last season I didn't play, I was out of the squad. It has been a tough time but this season is going to be a great season for Liverpool. To be part of the team who can bring the club back to the Champions League would be amazing. That's what I'm looking for."
British football has been blessed with some magnificent managers and the likes of Sir Matt Busby, Jock Stein, Brian Clough and Sir Alex Ferguson have become legends thanks to their success and charisma.
BIll Shankly deserves his place in that company, for taking Liverpool from the Second Division to the top of the English game.
Liverpool's 18 league titles and five Europeans Cups puts them in the same bracket as Manchester United as by a distance England's most successful clubs, and it was the inspirational brilliance of Shankly between 1959 and 1974 that paved the way.
The three league titles, two FA Cups and a UEFA Cup won by Shankly are all the more remarkable when you consider where Liverpool were when he joined - the second tier.
Not only was he successful, but Shankly was hugely charismatic, the quote at the top of this feature just one of many. He also had an aura about him that only a few men in the game over the decades have possessed.
With Preston playing Liverpool this weekend - Shankly spent most of his playing career with the Lancashire club - in a special match to commemorate what would have been the great Scot's 100th birthday, which falls in September, Golden Years remembers him with some special images from the archives.
Feel free to have your say at the bottom of this article and join us next Wednesday when we bring you some more nostalgia from Ashes Test matches played at Lord's.
This picture of Bill Shankly in front of the Kop at Anfield demonstrates how he was hero worshipped by Liverpool supporters. It was taken after Liverpool's final game of the 1972-73 season against Leicester, with the club celebrating winning the league. It was a third for Shankly as Liverpool boss, following titles in 1963-64 and 1965-66
Shankly spent most of his playing days with Preston - he was there for 17 years between 1933 and 1949, which included a long break during the Second World War. In all, the legendary Scot made 297 appearances for North End after joining at the age of 19. Here's a charming 1938 picture of Shankly adjusting a radio
Sir Matt Busby, who went on to become Manchester United manager, introduces his Scotland team (including Shankly, fourth right) to Baroness Spencer-Churchill, the wife of Prime Minister Sir Winston Churchill, before a wartime match between England and Scotland at Wembley in 1942. The game finished 0-0 in front of 75,000
Shankly practises an overhead kick in this 1946 picture. By this time, with the Second World War over, Shankly was well into his 30s and nearing the end of his playing days. He continued with Preston until 1949. The picture below shows Shankly in action for Preston, also in 1946
Shankly leads Preston out in 1948, a year before he left the club. He went straight into management after his playing career was over, first with Carlisle, and then with Grimsby, Workington and Huddersfield. It was when he joined Liverpool as their manager in 1959 that his legend really began to take shape...
Shankly and his Liverpool players celebrate after winning the club's sixth league title in 1964. Five years earlier, when Shankly joined, they were in the Second Division, but they won promotion in 1961-62 and after finishing eighth in 1962-63, they finished top 12 months later. Crucial to Liverpool's success were the 31 league goals scored by Roger Hunt, while captain and fellow striker Ian St John scored 21
Colour pictures were relatively rare in the 1960s, this one shows Shankly before the 1964-65 season. The Scot was at the peak of his powers that year, having led Liverpool to the league title the previous season. And he was about to inspire the club to another famous triumph...
Winning the league is the ultimate achievement for any club and although Liverpool claimed the title in 1964, there was still something significant missing from the Anfield trophy cabinet - until 1965, that is. Here's a picture of Shankly on the Liverpool bench during the 1965 FA Cup final against Leeds. Goals from Roger Hunt and Ian St John gave Liverpool a 2-1 win at Wembley and the Merseysiders had won the famous old competition for the first time
Shankly stands defiant in defeat at St George's Plateau in Liverpool following defeat by Arsenal in the 1971 FA Cup final. A huge crowd turned up to greet the Scot and his young team. Liverpool may have finished trophyless that season but their long-serving manager was planning for the future - and there were more glories to come
Could there be a more 1970s image than this? Here Shankly is with Kevin Keegan after signing him from Scunthorpe for £35,000 in 1971. Keegan became a hero in his six seasons with Liverpool, during which time the club won the league title three times. His spell culminated in the club winning their first European Cup in 1977
A thousand pounds was certainly not to be sniffed at in 1973 - nor of course was being named Manager of the Year. Shankly was given the award that year after leading Liverpool to the league title and UEFA Cup. Liverpool battled to the title ahead of Arsenal and Leeds and beat German outfit Borussia Monchengladbach 3-2 in the two-legged European final, claiming their first continental trophy
The famous red book is in the hands of TV presenter Eamonn Andrews in this 1973 picture - Shankly was having his story told in one of Britain's most popular television programmes, This Is Your Life. Among those that made an appearance to toast Shankly were Sir Matt Busby, Emlyn Hughes, Tommy Docherty and Kevin Keegan
| Two all-time greats of management here, Shankly with legendary Celtic boss Jock Stein at Billy McNeill's testimonial in 1974
| Shankly is pictured here during Liverpool training in 1973 - by this time, he was nearing the end of his memorable 15-year reign at the club
| Shankly sitting at a table on the train home to Liverpool with the FA Cup following his side's 3-0 victory over Newcastle in 1974. It was to be Shankly's swansong as Liverpool boss, with the man from Glenbuck deciding it was time to retire at the age of 60
Shankly leads Liverpool out for the 1974 Charity Shield against Brian Clough's Leeds (Clough famously spent just 44 days in charge at Elland Road) shortly after announcing his resignation at the end of the previous season. Bob Paisley had taken over as Liverpool boss but Shankly enjoyed one more big day at Wembley
Here Shankly is congratulated by jubilant and emotional Liverpool supporters after a Charity Shield victory over rivals Leeds in 1974. A famously bad-tempered match saw Billy Bremner and Kevin Keegan sent off for trading punches, while Liverpool won on penalties following a 1-1 draw
The reaction of fans to the departure of Shankly illustrated how much of a revered figure he was at Liverpool - these two ladies can't contain their emotions. His amazing 15 years had seen Liverpool transformed from a club languishing in the Second Division to one of the top teams in the country
Shankly made way for Paisley at Liverpool and the trophies kept rolling in. Here, Shankly lights Paisley a cigar after his successor was named Manager of the Year in 1976. Liverpool won the league title and UEFA Cup that year - 12 months later, Paisley led the club to their first European Cup
Our final picture shows Shankly playing Subbuteo at home in 1976. Shankly died in 1981 at the age of 68. He has a permanent place in the pantheon of truly great managers. The majority of Liverpool's 18 league championships, and their five European Cups, came after he left the club but supporters will always have a special place in their hearts for the man that helped to make it all happen
Highly-rated Liverpool youngster Michael Ngoo is set to move on loan to newly promoted Championship side Yeovil Town next season.
According to Association Press, the 20-year-old striker will spend a second consecutive season on loan as Liverpool are unable to offer the London-born starlet any first-team opportunities.
However, Yeovil will be getting a highly capable talent on loan as Ngoo scored five times in 17 appearances on loan at Hearts last season.
Hearts were reported to be interested in taking Ngoo on a permanent deal but any chances of a deal evaporated after the SPL club entered administration this summer.
Ngoo has risen through the ranks at Liverpool after joining from Southend United in 2009, although he has yet to make his first-team debut.
The youngster is also eligible for England after playing for the Under-19s and Under-20s but could opt to play for Cameroon and Nigeria through his parents.
Aly Cissokho has welcomed talk of a move to Liverpool, following reports Brendan Rodgers may be keen to lure him away from Valencia.
The 25-year-old was heavily linked with a switch to Anfield during his time at Lyon, but a move to Spain in 2012 meant the move never materialised.
However, with Valencia facing financial difficulties, Cissokho may find himself back on the move once again, and the French full-back has revealed his delight at the renewed link with Liverpool.
He said: ‘I will not believe that I am going anywhere until I am in Liverpool and having a medical.
‘Liverpool is such a great club, so to be linked with them is fantastic. But there is nothing concrete from anyone at the moment.
‘If there is an opportunity to join such a club, I will take it. Valencia are a great club, in a great city, but Liverpool are a legendary club.’
After having two bids rejected, Liverpool could be beaten by Chelsea to the signing of £8.5m rated Sporting Lisbon defender Tiago Ilori, although Brendan Rodgers’ side could now launch a bid for Italian midfielder Jorginho.
Ilori is said to be looking to move to the Premier League, and Liverpool, who are looking for a defender, despite already signing the experienced Kolo Toure this summer, may offer more first-team opportunities than Chelsea, where there is more competition for places. However, the lure of playing under Jose Mourinho could prove decisive.
The move for Ilori ties into the transfer policy of Liverpool’s owners, the Fenway Sports Group, who are looking to sign youngsters for the future. The club is currently lacking youth in defence, with Toure, Daniel Agger and Martin Skrtel all highly experienced. Sebastian Coates has struggled to make an impact since arriving in 2011, so there would be high hopes for the 20-year-old.
Jorginho helped Hellas Verona achieve promotion to Serie A last season, making 44 appearances in central midfield. Liverpool look to have missed out on Shakhtar Donetsk star Henrikh Mkhitaryan, so the Italian U-21 international is being seen as another option.
According to reports Blackburn Rovers have agreed a fee with Liverpool for midfielder Jay Spearing.
Spearing, who spent last season on loan at Bolton Wanderers, has 12 months left on his contract at Anfield, but it seems he does not have a future at the club.
The Daily Mirror claims Rovers have agreed a £1.5 million deal, but may have to sell players to fund the move.
Wanderers boss Dougie Freedman is said to be keen on bringing the player back to the Reebok Stadium for another loan spell, but it is believed Liverpool favour a permanent move.
Jamie Carragher believes Liverpool have what it takes to mount a top-four challenge this season.The former Reds defender will be part of Sky Sports' punditry team when the 2013-14 campaign gets underway in August.He will line up alongside the likes of Gary Neville, Graeme Souness and Jamie Redknapp in the studio.And Carragher expects Brendan Rodgers' side to build on last season and push for a Champions League spot."I think Liverpool and Tottenham will be vying with Arsenal to get that fourth place," he told Sky Sports."It's not set in stone who will finish up there at the moment and certainly Liverpool have got to run them a lot closer than they did last season or the year before."There's no reason why Liverpool or Tottenham can't get in that space because it's so tight between those teams."I certainly expect an improvement from Liverpool this season."Carragher will operate predominantly on Sky's Monday Night Football show alongside former Manchester United full-back Neville.The two had their moments on the field in the heat of so many Liverpool v United battles.However, Carragher insists he'll aim to remain level-headed when it comes to analysing crunch clashes for the Reds."I'll be impartial," he said. "I'm sure I'll still have a bit about me that would love Liverpool to win and I don't think people would expect me to say differently."I want to do this as well as I can and the only way to do this is by being honest and by giving the opinions that I feel at that time."I'm on the other side of the fence now, but I'm still getting the same feelings - but not just about Liverpool now. It's about other teams and what games I could do and what I could bring to the table. It's exciting."Steven Gerrard told Liverpoolfc.com earlier this week that he expects friendly criticism from Carragher when the Bootle boy is assigned his first Liverpool games next season.And when asked how he felt about offering constructive criticism to his former teammates, Carragher responded with: "When that happened on the pitch I'd criticise them anyway, so it won't make that much difference doing it in the TV studio really!"Liverpool was a big part of my life and still will be for the rest of my life, but I've got a job to do and I'll try and do it the best that I can."
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