The Reds have already begun their summer recruitment drive by confirming a deal to sign Joel Matip from Schalke on a free transfer at the end of the season.
Liverpool have inevitably been linked with a host of players in recent weeks as the speculation ahead of the summer transfer window begins to gather pace.
And Pearce feels that the Merseyside outfit are likely to be one of the busiest clubs during the summer transfer window.
Speaking on Sky Sports News HQ on Friday morning, Pearce said: “I wouldn’t be surprised if Liverpool are the biggest spenders, both in and out of the football club, this summer coming up.
“I think they have got to juggle the pack. They’ve got a manager that, you know I see him come on the pitch after the games and cuddle his players and all that game.
“But underneath that I think there is a manager there that’s going to be ruthless come the summer.”
Liverpool, who drew 0-0 with Augsburg in the Europa League on Thursday night, have a free weekend as they prepare for their League Cup final clash against Manchester City at Wembley on Sunday 28 February.
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