Former Liverpool midfielder Jan Molby believes that the club need to invest in better players if they are to reestablish themselves among the Premier League's big boys.

The Reds spent heavily last summer to add to the £58m additions of Andy Carroll and Luis Suarez the previous January.

However, Molby, who made 292 appearances for the Anfield outfit, feels that they need to invest further to improve a squad that currently sits eighth in the table and has highlighted wingers and a goalscorer as transfer priorities.

"They spent a lot of money last season, but with all the chances they have wasted, they have to find somebody to score more goals," he told BBC Sport.

"They need wide men who can bring us real quality, a real playmaker in midfield and of course, importantly, and depending on how much money is available, a goalscorer."

Manager Kenny Dalglish recently revealed that there would be money to spend on new players come the end of the season.