Rafael Benitez believes that he needs "four or five" new players if Liverpool are to challenge for silverware next season.
The Reds boss made the admission after watching his side knocked out of the Europa League on Thursday night in spite of a 2-1 victory over Atletico Madrid at Anfield.
"Someone said we needed four or five players. I would more or less agree with that. That is what we have to do," Benitez said.
"Liverpool is a massive club. There has been a change in the last two or three years. We have had to balance the books and manage in this way.
"I do not know whether I will have any funds. We will find out in the summer. But the name is there and we have to do our best for it."
However, the Spaniard believes that fortune has not favoured his side during a campaign which is almost certain to end with them finishing outside the top four in the Premier League.
"Everything seems to have been against the players this season," he argued.
"It is clear that we had some problems. We had too many injuries and were lacking forward options. But the players worked so hard tonight and I am very proud of them.
"Now we have to concentrate and do our best in the next two games."
Meanwhile, Benitez refused to be drawn on speculation linking him with a move to Juventus at the end of the season.
"The future (for me) is Chelsea. And then Hull," he declared, referencing Liverpool's two remaining league fixtures.