Liverpool's wage bill will dramatically decrease should they fail to qualify for the Champions League.
Jurgen Klopp's side are set to miss out on Europe's elite club competition for the first time in seven years. The Reds currently sit fifth, three points behind Manchester United and Newcastle, but Liverpool have played a game less than those two teams heading into their final day trip to Southampton.
They require Man Utd losing twice against both Chelsea and Fulham at home to stand any chance of booking a top-four place. Newcastle's superior goal difference means that the Magpies have all but secured their Champions League spot, but losing heavily against Leicester and Chelsea may give Liverpool half a chance.
But, Liverpool, barring a minor miracle will play in the Europa League next season after their 1-1 draw against Aston Villa on Saturday. Roberto Firmino scored a last-minute equaliser to keep Liverpool's slim top-four hopes alive after Jacob Ramsey had given Villa the lead at Anfield.
Liverpool's wage budget will decrease drastically ahead of next season following their Champions League failure, while the club are set for a huge rebuilding job in the summer. Klopp will be handed finances to spend after the departures of James Milner, Alex Oxlade-Chamberlain, Roberto Firmino and Naby Keita, which will free up around £500,000 a week in wages.
Klopp wanted to keep Milner at the Reds, but the club didn't hand the 37-year-old a new deal - and Liverpool's wage cut possibly explains why. The German is set to be given a mega-money kitty to spend on his squad and they have already been linked with a number of players.
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Brighton's Alexis Mac Allister has been heavily tipped to make the switch to Anfield. The Argentinian midfielder has been excellent this season, scoring 10 times and providing two assists as part of an impressive Seagulls midfield involving Moises Caicedo and Pascal Gross.
He isn't the only midfielder to be linked with a move to Liverpool, however. Youri Tielemans, Matheus Nunes and Mason Mount are amongst those that could make the switch to Merseyside. Liverpool may also strengthen in other areas, such as central defence given the form of Virgil van Dijk this term.
Liverpool will also have a little bit more money to spend on players as Champions League-related bonuses will not count on those contracts that apply. This is something they have had to do in the past few years due to their success in Europe's top club competition - winning it on one occasion in 2019.
They last competed in the Europa League during the 2016/17 season, reaching the semi-final after being beaten in the final by Sevilla in the previous campaign. Speaking after his side's draw against Villa, Klopp believes his side do not deserve to be in the Champions League.
"I think the whole season is a season where we qualify for the Europa League and not for Champions League," he told reporters. "We were too long not good enough or ourselves. I think we made it pretty exciting. I didn’t think that was possible seven weeks ago. The boys did really well in that period.
"I think our people enjoyed it as well. You could see today they were not angry with us, looking forward to a new Premier League season and Europa League season, and so do I, though we still have a game to play."
