Liverpool ran away with this season's Premier League title, but the Reds fell short in terms of defending their Champions League crown, being eliminated from the competition by Atletico Madrid.
Jurgen Klopp's side are not expected to make wholesale changes in this summer's transfer market, but the Merseyside giants are still likely to improve their squad ahead of the 2020-21 campaign.
Here, Sports Mole rounds up the latest news on possible comings and goings from Anfield.
Saturday morning's Liverpool transfer talk news roundup:
Liverpool could reportedly have been given a boost in the race for Borussia Dortmund's Jadon Sancho.
Manchester United are believed to be the favourites for the England international, but ESPN claims that the Red Devils could miss out on a deal due to the finances involved.
Indeed, the report claims that United vice-chairman Ed Woodward is only willing to offer £50m due to the financial implications of the coronavirus pandemic.
Ole Gunnar Solskjaer is said to be worried about Woodward's negotiating tactics and wants his side to make a more realistic opening offer or risk losing Sancho to a rival club, with Liverpool now believed to be keeping a close eye on developments ahead of the 2020-21 campaign.
The 29-year-old is due to be out of contract at the Allianz Arena next summer and been strongly touted as a target for Premier League champions Liverpool.
"The talks Hasan [Salihamidzic] had with him have always been very productive. And at some point it actually seemed that [a new contract] was done," Rummenigge told Sky Sports Germany.
"But then Thiago told Hasan some time ago that he would like to try something new at the end of his career. We have to accept that. We have a contract with Thiago that is still valid for one year and if he reaches an agreement with any club then that club should pay a transfer fee of a certain amount."
Thiago has enjoyed huge success during his time with Bayern, winning seven Bundesliga titles and three DFB-Pokal trophies.
Liverpool are reportedly considering a summer move for Bournemouth defender Lloyd Kelly.
The Reds are expected to improve their defensive ahead of the 2020-21 campaign, and according to The Express, Kelly's versatility has seen him emerge as a target for the Premier League champions.
Injury restricted the 21-year-old to just eight appearances in the Premier League during the 2019-20 season, all of which were made after the resumption in June.
The Cherries will be keen to keep hold of the Englishman ahead of their return to the Championship, but a bid in excess of the £13m which they paid in May 2019 could be enough to tempt them into a sale.
More transfer news from Liverpool:
Liverpool in no rush to decide Rhian Brewster future?
Liverpool are reportedly prepared to bide their time before deciding where Rhian Brewster will play his football next season. Read more.
Liverpool, Arsenal to battle for teenage goalkeeper Ricardo van der Laan?
A report claims that Belenenses goalkeeper Ricardo van der Laan has caught the eye of Premier League pair Liverpool and Arsenal. Read more.
Leeds United pushing to sign Wigan Athletic youngster Joe Gelhardt?
Leeds United are reportedly looking to push through a cut-price deal for Wigan Athletic youngster Joe Gelhardt. Read more.