Brendan Rodgers has signed Luis Alberto, Iago Aspas, Simon Mignolet and Kolo Touré during the summer transfer window, while also fending off interest in key men such as Daniel Agger and Luis Suárez.
The Reds are reported to have secured Aly Cissokho on a season-long loan deal on Friday, and the Merseyside outfit have also been linked with a swoop for Anzhi Makhachkala’s Willian.
But former Reds defender Lawrenson is concerned Liverpool haven’t got sufficient quality in their squad to challenge for a top-four finish.
“Having no Champions League football is really hurting Liverpool,” Lawrenson wrote in his Liverpool Daily Post column.
“Looking at their squad at present, would you say it has enough to finish in the top four?
“You’d have to say it hasn’t.
“Liverpool need new quality players to get into the Champions League. But they are struggling to attract such players… because they aren’t in the
“It’s a vicious circle.
“All the teams around Liverpool have strengthened, and they are going to be strengthened even further between now and the transfer window closing on September 2.”
He added: “This was always going to be a big summer for Brendan Rodgers, and he’s hit something of a stumbling block.
“Yes, he has had to balance the books a bit –probably a bit more than he expected – but surely the last thing Rodgers will want is to have a transfer surplus but with nobody worth spending it on.”
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news