Liverpool captain Steven Gerrard believes Brendan Rodgers must spend big if they are to compete for the Champions League places next season.
The Reds finished the season strongly taking 30 points from 16 matches after losing to Manchester United on January 13 and to bridge the gap Gerrard believes the squad will need strengthening.
"Since January this team has shown a better level of consistency," he said.
"We've shown Champions League form and there is a lot of optimism and positives to take into next season.
"Our target at the beginning of the season was fourth (place) and we have not delivered that - as players we need to take responsibility for that.
"We finished seventh in the league so there certainly needs to be a bit done. The preparation starts now for next year. I am sure the manager and staff are already preparing.
"All the other teams will strengthen and we can't afford to be left behind.
"I am sure the manager is already thinking about where he needs to strengthen the squad to make up that gap so we compete with the top four.
"It's down to us to continue what we've done in the last couple of months, take that into next season and try to improve."
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