Liverpool manager Brendan Rodgers has reportedly been handed a transfer budget of up to £135m as he targets six summer signings ahead of the new season.
The People claims that Reds owners Fenway Sports Group will allow the Northern Irishman to reinvest all of the £75m recouped from the sale of Luis Suarez to Barcelona back into his squad.
Among the names linked with a move to Anfield are Southampton forward Jay Rodriguez and defender Dejan Lovren.
It is also reported that Liverpool will target Sevilla's £20m-rated Alberto Moreno, fellow left-back Ben Davies and Swansea teammate Michel Vorm.
Meanwhile, Lazar Markovic is said to be close to completing a £20m move to the Premier League runners-up ahead of the new season.