Jurgen Klopp believes Liverpool have the squad capable of challenging for Europe’s top prizes for years as he ruled out any big-money signings this summer.

Liverpool’s £140 million investment on centre-back Virgil van Dijk and goalkeeper Alisson Becker in 2018 broke the world transfer record for players in their respective positions, but will not trigger a new era of similar spending.

Club owner Fenway Sports Group has focused as much effort rewarding star players, paying out an estimated £150 million on contract extensions over the past 12 months. Its policy priorities retention rather than reconstruction, with Mohamed Salah, Roberto Firmino and Sadio Mane among those recognised for helping re-establish Liverpool’s European status.

“I don’t want to talk exactly what we will do, but I don’t think this is a team at the moment where we have to spend the big money or whatever,” said Klopp.

“The best way to do it is bring together a group of players, try to develop them all together and then stay together for a while. And that was maybe the main problem of Liverpool for the last decade. When they had a good team after a season they went all over the world. That will not happen this year, for sure.”