Liverpool FC were very busy in the summer transfer window following the addition of four new players ahead of the new season.
The Reds started their summer of recruitment with the £39m addition of Fabinho from AS Monaco to bolster their midfield options.
The Merseyside outfit finally signed Naby Keita from RB Leipzig after the two clubs agreed a £48m fee in the 2017 summer transfer window.
Xherdan Shaqiri arrived in a cut price £13.5m deal after the Switzerland international was unable to fire Stoke City to Premier League safety.
Liverpool FC spent £67m on AS Roma number one Alisson Becker to add a world-class goalkeeper to their ranks to replace Loris Karius.
The Reds finished 25 points behind Premier League champions Manchester City in the title race last term.
Former Spurs star Waddle believes the Reds will be under pressure to mount a sustained title challenge in the Premier League this season.
“They have spent some big money and Klopp cannot keep saying ‘we are building’,” Waddle told BBC Sport.
“This is the year for me where Liverpool have got to come out and say ‘we are competing for the Premier League title’. I know they won’t but they are in a place now where they are trying to win everything City and United are trying to win, so why deny it?”
Liverpool FC haven’t won the Premier League title and their last top-flight success came in 1990.
The Reds lost 3-1 to La Liga giants Real Madrid in the Champions League final in Kiev last season.
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