The Reds are in third place in the Premier League table but a mere two points behind Manchester United.
The Merseyside outfit are 18 points adrift of runaway leaders Manchester City, despite a 4-3 win at Anfield back in February.
Liverpool FC are looking to secure top-four finishes in successive seasons after Jurgen Klopp secured a return to the Champions League.
The Reds will take on Pep Guardiola’s men in the Champions League quarter-finals following a 5-0 aggregate win over FC Porto.
Former Arsenal striker Wright is tipping Liverpool FC to challenge the Citizens for the Premier League title with a number of shrewd additions.
“Liverpool and the energy of the side plus Klopp,” Wright told Sky Sports.
“If they can make a couple of more signings, they will be the ones to challenge Man City.”
Liverpool FC signed Netherlands international Virgil van Dijk from Premier League rivals Southampton in the January transfer window.
The Reds finished in second place in the Premier League table in 2002, 2009 and 2014.
The Merseyside outfit have never won the Premier League title and haven’t lifted the Champions League crown since 2005.
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