News broke on Friday of Liverpool's first official bid for Newcastle United striker Alexander Isak - worth £110m - being rejected, and the Merseysiders are said to have decided against making a second bid.
Arne Slot replaced legendary boss Jurgen Klopp and won the Premier League title at the first time of asking in 2024-25 despite backup winger Federico Chiesa being his only summer signing.
This time around, the Dutch manager has overseen a significant overhaul of his squad, with the club spending nearly £300m this transfer window.
The Reds have been particularly keen on strengthening up front, with Florian Wirtz and Hugo Ekitike boosting the team's offensive ranks.
Reports suggested that the Merseysiders would be willing to shatter the British transfer record (£116m) that they paid for Wirtz in their attempts to land Newcastle's Isak, though their opening offer was refused.
While the Swede was arguably the best striker in the Premier League in 2024-25, his acquisition could prevent the Reds from making signings in other areas due to the costly nature of a potential transfer.
Here, Sports Mole discusses why missing out on Isak could help Liverpool in their quest to retain their status as champions in 2025-26.
Gaps in Liverpool's Premier League-winning squad
Liverpool finished 10 points ahead of second-placed Arsenal with 84 points, though they did win the title with four games remaining, and performance levels dipped once the league had been won.
The likes of Mohamed Salah and Virgil van Dijk enjoyed exceptional individual campaigns, with the former scoring 29 goals and providing 18 assists.
While Slot was able to platform his best players and guide the club to a first-placed finish, the team still had flaws that are yet to be addressed.
Ryan Gravenberch was used in a deeper midfield role, and though he was one of the division's standout players in the first half of the season, he struggled in the second half.
The Dutchman is a natural number eight, and at times the Reds struggled to build play through the centre of the pitch and were overly reliant on the progressive passing ability of departed right-back Trent Alexander-Arnold.
Additionally, backup defensive midfielder Wataru Endo only started once in the Premier League in 2024-25, and it is clear that the Japan international is not trusted in the first XI.
Alexis Mac Allister and Dominik Szoboszlai were stalwarts in the team last term, while Curtis Jones was also a regular, but it would be dangerous to rely on so few midfielders in 2025-26, especially if the club have ambitions of going far in the Champions League.
Issues that have emerged this summer in Arne Slot's team
Liverpool have so far opted against signing a midfielder capable of competing with Gravenberch, but new issues have also emerged this summer that will need to be addressed.
Alexander-Arnold's switch to Real Madrid has deprived the Reds of arguably their best passer, and the team will have to find new ways of progressing the ball in deep areas of the pitch.
The exit of Luis Diaz to Bayern Munich has left the Reds short of wingers, with Cody Gakpo the only senior option on the left flank.
Teenager Rio Ngumoha has been given opportunities by Slot on the left in pre-season, but it would be unfair to expect him to come in and regularly rotate with Gakpo given he is still just 16 years old.
Centre-back Jarell Quansah was also sold this summer, and his exit to Bayer Leverkusen means that Slot only has three options in central defence, but Ibrahima Konate and Joe Gomez are both injury prone.
In fact, Gomez was forced to return from Liverpool's pre-season tour of Asia due to an Achilles issue, and he has proven unreliable from a fitness perspective for a number of years.
Van Dijk is arguably the best centre-back in the world, but it would not be surprising if his performance levels declined in the near future considering he is 34.
While Isak's arrival would be a significant boost for Slot, there is an argument that his squad would be better positioned to retain their Premier League title if other deals were prioritised.
What could Liverpool do with their Isak transfer funds?
Crystal Palace number six Adam Wharton has been tentatively linked with a move to Anfield, and his expansive passing range could significantly improve Slot's options in the middle of the pitch.
The Englishman would be able to come in and rotate with Gravenberch at the base of midfield, and he could even be paired with the Dutchman in certain games.
Liverpool have also been credited with an interest in Palace centre-back Marc Guehi, who has just a year left on his contract, but the Eagles are reportedly demanding close to £50m for his signature.
If the Reds fail to land Isak, then they would almost certainly be able to pay Palace's asking price without hesitation, though they may not be willing to lose both Guehi and Wharton in one window.
Real Madrid winger Rodrygo is said to be of interest to Slot's side, and any transfer from Spain would be costly, but saved funds from Isak's transfer could be reallocated to the Brazilian.
Liverpool will be seen as favourites for the title regardless of whether they sign Isak due to their expenditure this summer, but even if they were to miss out on the Toon striker, there are still ways for the champions to improve.