The title defense hopes for the Reds were essentially extinguished after they fell at Anfield on a third successive occasion on Sunday.
Former Liverpool forward Stan Collymore has urged the club to bolster their attacking ranks in the summer in order to keep challenging Manchester City at the top of the Premier League table.
Roberto Firmino, who leads the line for the champions, has found the net just six times in the Premier League this season.
Robert Lewandowski, who was recently voted as the unofficial 2020 Ballon d’Or winner after guiding Bayern Munich to a treble last season, has been identified as a possible target by Collymore.
The ex-Reds striker also views Harry Kane, who continues to prove himself as one of the world’s finest marksman with 34 goal contributions in just 30 games this season, as someone Jurgen Klopp’s side could pursue.
Liverpool currently sit at fourth, 10 points adrift of Man City having played a game more.
Collymore told The Mirror: “They do need to wake up and smell the coffee, which means owners FSG spending money to go toe-to-toe with City
“It means that if City go out and buy Erling Haaland this summer then Liverpool must buy the next Robert Lewandowski or even put in a bid for Harry Kane.
“What they can’t do is just say, ‘We have a really good XI, some youngsters coming through, and we can maintain our challenges that way’, because there are too many other teams with the money to make sure that won’t be the case.”