If it is that, then they've already spent it on the mediocre signings they've already made if you include the wages. They'll be in dangerous territory stepping over their current budget. They would have failed FFP the season before the one just gone (if they were competing in Europe) so they are quite limited financially. Any investment made from here on out will be done on the assumption they'll make top four consistently. When you look at Arsenal (+ Sanchez), Chelsea (+ Fabregas and Diego Costa), City and Us (+ LvG, Mata [from the off], Shaw, Herrera and others) it's difficult to see where a Liverpool team with a couple of players from 8th placed Southampton will really fit in.
They either throw caution to the wind, try and replace the goals they'll lose with Suarez, with big investment and bank on doing well in Europe this season as a third seed team AND qualifying for CL again with an extra 10-15 games without the player who has carried them, or they try and rebuild slow time and hope Coutinho and Sterling continue to develop while plugging the obvious gaps in their defence over the next few seasons as well as replacing Gerrard.
Difficult times ahead.
