Liverpool owners Fenway Sports Group (FSG) want manager Kenny Dalglish to sell members of his squad before they will allow him to spend the cash again.
The Reds have already embarked in a £40million recruitment drive this summer, resulting in Stewart Downing, Jordan Henderson, Charlie Adam and Alexander Doni being signed.
FSG is now keen for the club to recoup at least some of the outlay through sales despite the boss still wanting to bring in fresh faces.
Dalglish wants a central defender and a left-back, but his pursuit of reinforcements is only likely to come to fruition once the fringe players have been offloaded.
Paul Konchesky has already been sold to Leicester City for £1.5million but there are more players likely to be heading for the exit.
Liverpool will listen to offers for Christian Poulsen, Brad Jones, Philipp Degen, Emiliano Insua and David Ngog.
Alberto Aquilani and Raul Meireles will also be allowed to leave should Liverpool receive substantial offers, with the Italy midfield player the most likely to depart.
Joe Cole would also be allowed to leave, but Liverpool is discovering that his £110,000-a-week contract is proving a deterrent to interested clubs.
Should Dalglish offload the players he will turn his attention to finalizing deals for Diego Godin and Jose Enrique.
The Anfield boss is satisfied with the business his club has done so far this summer, but he is aware of the need to trim his squad.
“We’re delighted with the work we’ve done,” Dalglish said. “Whether there’s more remains to be seen and depends on players going out.”