It's all in remarkably stark contrast to last season's endeavours, where Jurgen Klopp's side won two domestic trophies and ran it close to completing an unprecedented quadruple, losing out to Manchester City in the Premier League and Real Madrid in the Champions League final.
But the departure of Sadio Mane, key injuries to the likes of Luis Diaz and Virgil van Dijk for the bulk of the season, and limited activity in the last two transfer windows have seen a nasty whiff of staleness protrude around Anfield.
Inconsistent form, underperforming stars and a loss of tactical identity have led to shocking results and performances.
While not always the answer, it feels as though a rebuild is now much needed on the red side of Merseyside, with the coming summer transfer window seemingly key for restoring Liverpool to their competitive best once against, especially as the likes of Arsenal, Manchester United and even Newcastle have risen as forces to be reckoned with.
Of course, any available kitty and financial fair play restrictions would massively come into the equation, and we're not suggesting the club buys all of the following players. Here, Flashscore has merely identified some key areas for Klopp to prioritise for upgrades, naming some of the best candidates to fill those roles and considering those that might actually be interested in making the move.
Midfield rebuild
Jude Bellingham is the name on everyone's lips right now, not only in England but much of Europe as well. The Borussia Dortmund star has matured into an elite player in Germany this season, showing his capability at the highest level in his club's title push, as well as putting in some excellent displays for the Three Lions at the World Cup in Qatar.
He's likely the top of the shopping list for Liverpool, who desperately need to refresh the central midfield options with the likes of Thiago, Jordan Henderson and Fabinho all failing to live up to their usual standards. Klopp has also had to deal with youngsters such as Harvey Elliott and Fabio Carvalho all flattering to deceive.
Bellingham would immediately make himself a main man at Anfield, with many already making comparisons between the 19-year-old Brummie's style of play to that of Liverpool legend Steven Gerrard, who himself has publicly pleaded with the youngster to join.
He would come at a hefty price though, probably £150 million on a good day, and there'll be competition from every other elite club in Europe, with Manchester City, Real Madrid, PSG and Bayern Munich also said to be keen.
James Maddison has been rumoured to be on the move since the last summer transfer window, with the Leicester man keen to move away from the King Power Stadium to enhance his England prospects.
The attacking midfielder has suffered from niggling injuries this season but has still drawn plaudits, proving to be a bright spark in a struggling Foxes side.
The player is keen on a move and Liverpool are in desperate need of fresh creativity in the centre of midfield. Maddison's ability to find passes in the final third could reinvigorate a struggling Mohamed Salah and provide much-needed service for Darwin Nunez up front.
For a 'stab in the dark' option in midfield, Declan Rice - arguably one of the most underrated players in Europe right now - would be a phenomenal addition to Liverpool's midfield.
His ability to do a bit of everything in a calm, understated fashion would do wonders, particularly in front of defence when Van Dijk is out of action. His ability to intercept play and read danger (and the game as a whole), slotting in seamlessly whenever the wing backs decide to push on, would be invaluable.
Paired with just one (if not both) of Maddison and Bellingham, the 24-year-old would be an absolute weapon under Klopp.
Help for Van Dijk
Liverpool have suffered most this season when Virgil van Dijk has been out of the side - as most teams would when you have arguably the best defender in the world missing.
That said, the Reds don't have a plethora of options at centre-back as it is, even without their titan Dutchman. Joel Matip deputises relatively well but is prone to costly errors, while Ibrahima Konate is yet to realise his full potential and Joe Gomez is constantly battling his own injury demons.
Klopp could do with a couple of additions here in truth, not only to go alongside Van Dijk but to fill in for him should the worst happen.
Joško Gvardiol had a phenomenal World Cup in Qatar for Croatia, catching the eye throughout with battling performances in his Batman-esque protective mask. The RB Leipzig star has all the physical attributes required for the Premier League: speed, power, physicality - he looks like he revels in the battle, something Liverpool seem to have lost in the 12 months. Barcelona and Bayern Munich are also said to be looking at him.
Fikayo Tomori could be another option. The former Chelsea defender has been enjoying a stellar career in Serie A with AC Milan, drawing plenty of plaudits in Italy. Perennially overlooked for the England squad by manager Gareth Southgate - much to the chagrin of pretty much every Three Lions fan - now would be an excellent time for the 25-year-old pacey centre-back to return to the Premier League and show everyone what he's made of.
As something of a curveball option, Aymeric Laporte reportedly wants out at Manchester City this summer after losing his place in the first XI to Nathan Ake.
The Spanish international will be desperate for more game time in order to cement his place in Spain's squad for Euro 2024, and he'd still be an upgrade on Liverpool's current options for partners to Van Dijk. The commanding centre-back is rumoured to want a move abroad but could be persuaded to stay in England if Liverpool came knocking. Whether Pep Guardiola would be willing to allow the move seems unlikely, though.
Wake-up call for Trent
Rightly or wrongly, Trent Alexander-Arnold comes in for a tremendous amount of criticism for Liverpool. Once lauded as the best right-back in world football, the Englishman's form has dipped starkly in the last 18 months, leading many to believe he's not at the level required to maintain a starting berth at Anfield.
Such as been the decline for TAA, he's barely making it into England squads with competition for that position at its fiercest.
Going forward, the 24-year-old local lad can still be devastating, as can his set pieces. But it's in defence where the problem lies, with his positioning and marking abilities being heavily scrutinised - particularly during Liverpool's 4-1 drubbing by Manchester City.
Right-back is not an easy position to fill, however. Denzel Dumfries could be an interesting option, the Dutchman enjoying an impressive showing in Qatar and a consistent performer for his club, Inter Milan. The 26-year-old is not too dissimilar to TAA in playing style, with Dumfries liking to get forward as much as possible to join in with attacks, providing killers passes and crosses - however his technical ability in defence is markedly more impressive.
Giovanni Di Lorenzo of Napoli will likely be attracting suitors this summer - as will most of his teammates after the season they're having.
A versatile player capable of filling into the centre of midfield, at centre-back, or even as a winger, the Italian international is a bombarding right-back who again likes to get forward and chip in with goals and assists. Yet he maintains the aggressive Italian defensive DNA that makes him such an excellent player to have on the right-hand side of the pitch.
However, Di Lorenzo is the club captain and a remarkably passionate one at that, so even if other key stars do depart Napoli, he may be too principled to want to leave.
A cheaper option could be Aston Villa's Matty Cash. The Polish international goes under the radar in a league blessed with an array of excellent right-backs, but his work rate and reliability are top-drawer. While not as glamorous a name as the aforementioned, he'd be a decent and economical addition that, while not an upgrade or replacement on Alexander-Arnold, could be the kick up the backside he needs to get back to his best.
Wildcard in attack
Liverpool probably won't be looking for any major additions in attack this summer, having forked out close to £150 million on Darwin Nunez and Cody Gakpo in the last two windows - both of whom are under the age of 24. It would be silly not to give the pair more time to find their feet on Merseyside.
That said, a certain Harry Kane is looking increasingly like he'll be available for transfer from Tottenham Hotspur this window, with Spurs chairman Daniel Levy likely to accept bids of around £80 million even if they come from Premier League rivals.
Adding Kane's experience, goals and playmaking to Liverpool's squad would surely make them immediate title challengers once again and provide them with attacking depth second to none.
Even without Champions League qualification, Kane would likely be interested in the move given his craving for winning any sort of silverware - something that would be more likely at Liverpool than with Spurs.
It would also allow him to continue chasing down Alan Shearer's all-time Premier League scoring record.
It obviously won't happen, and there's no suggestion of any interest in Kane from Klopp or Liverpool. But what a match they would potentially make.
