Liverpool owner John W Henry insists the time was right for the club to part ways with Luis Suarez and believes they will have no problem in coping without the presence of the Uruguayan.

Weeks after being handed a four month ban for a third biting offence during the World Cup Suarez completed his move to Barcelona for a deal believed to be worth €75m.

Despite the addition of four new players with a fifth in the form of Loic Remy expected in the coming days, questions have been raised as to whether Liverpool are capable of replicating last season's form without the talismanic striker.

But American owner Henry has brushed off such fears and insists the reinvestment the club has and will continue to undergo this summer will ensure they are capable of competing on all fronts next season.

"I felt we needed more depth (in the squad), Henry told NBC. "Last year, we needed more depth and we are playing a lot more games this year.

"It was time for Luis and time for the club to make a break. He brought so much to the team, but I think that we brought a lot to Luis. I think you'll still see a very explosive offence (attack).

"This year, we're not just focusing on the Premier League, but it's the first time we've been in the Champions League for a while, so that's a huge focus for us. We've brought in a lot more depth, we hope to be compete in both arenas."

Prior to Suarez's departure, Liverpool has already tied up deals for former Southampton pair Rickie Lambert and Adam Lallana in addition to German Under-21 midfielder Emre Can. The Merseyside club have since added Serbian starlet Lazar Markovic are expected to sign Queens Park Rangers forward Remy in order to supplement the loss of the Uruguayan international.