There remains 10 games to play in the English Premier League but the transfer rumors never stop in this game and so I want to take a look at what Liverpool should do to in the transfer market to improve next season.
Out:
Mario Balotelli
It was well worth the gamble to sign the controversial Italian but it just simply hasn't worked out. It might be hard to find suitors for him but I think it is important to get him away from Anfield because he just brings the whole team down mentally. There have been rumors that MLS are interested in signing him, which would be a bit weird but stranger things have happened.
Steven Gerrard
Captain Fantastic's exit has already been confirmed and so Liverpool need to find a replacement for him. There have been musings that Gerrard might return back on loan as early as next January, though I wouldn't count on it.
Fabio Borini
Borini came very close to being sold off to Sunderland and later QPR but he rejected a move away to fight for a place at Liverpool. He didn't do too bad in his cameos this season but he certainly didn't set the world alight, he seems to lack that cutting edge that is needed to be a top club type of player. He will undoubtedly have plenty of suitors in England as well as his native Italy.
Glen Johnson
The right back's current contract expires at the end of the season and so will become a free agent in the summer. I believe Liverpool have made a smart choice in choosing not to renew his contract as he has been abysmal in recent years, looking totally lackadaisical on the ball and unwilling to track back on defense. It also seems as though Rodgers is set on eliminating the fullback positions in favor of wing-backs, which doesn't favor Johnson.
In:
Danny Ings
With the theoretical exits of Balotelli and Borini Liverpool will need to bring in reinforcements to back up the exceptional yet injury prone Sturridge. Ings have impressed with relegation battling Burnley, scoring 9 Premier League goals despite the team's poor form. He fits the FSG transfer policy: he is young, English and hardworking. His style is very similar to that of Sturridge but is quite capable of playing in other advanced roles as well. The best part about Ings, he is out of contract at the end of the season which means he wouldn't cost a thing. A no brainer.
Petr Cech or Mignolet backup
Liverpool were linked with the Czech keeper after Courtois replaced him as first choice at Chelsea, but Chelsea were unmoving and Cech remained loyal. Cech has played a minor role for Chelsea and will probably seek to be first choice elsewhere and there is no doubt he would start above Mignolet. If a move for Cech doesn't materialize Liverpool will still need to bring in a keeper, as Mignolet needs better competition/backup than Brad Jones. Mignolet has been is sparking form since he was brought back after Jones was injured, but Cech is on another level than Mignolet.
Asier Illaramendi
The young Spanish midfielder has endured a season of sitting on the sidelines at Real Madrid and is rumored to want a move to get more game time. It is rumored that Liverpool are considering moving for him in the summer. With Gerrard gone and Lucas being in and out of the team with constant injuries it would be wise to bring in another midfielder. Illaramendi is good at controlling games and spreading passes, a role which Gerrard has played for Liverpool recently and so would be a good replacement. I am not sure he would automatically start each match for Liverpool but would be a great squad player to have.
Center back or right back
Emre Can is currently playing as the right-sided center back for Liverpool, despite being more comfortable in the midfield. I think this is the most unneeded position for Liverpool to reinforce and should only sign a player if they can get the right kind of player. The only player that comes to mind is Nathaniel Clyne, of Southampton, who has enjoyed another fantastic season with the Saints. Southampton will not want to let another young English player leave but Liverpool's pockets run deep.