Liverpool's owners Fenway Sports Group (FSG) have promised manager Jurgen Klopp that any money raised from the potential sale of Philippe Coutinho to Barcelona will be reinvested in the squad, reports say.
The Sunday Mirror claims Barcelona will make a fresh bid of £130m ($170m) to try to prise Coutinho away from Anfield in January after having multiple bids rejected by the Merseyside club in the summer.
If the Brazilian midfielder ends up leaving, FSG have told Klopp that he can use the money from the sale to sign a replacement and also strengthen his squad in other areas, particularly the Reds' leaky defence.
Klopp could renew his interest in centre-back Virgil van Dijk in January, with Southampton holding out for a fee of around £70m for the Netherlands international.
The German coach has come under pressure at Anfield after a poor run of form that has included just three wins in the club's last 11 matches across all competitions.
Earlier this month, former Reds defender Phil Thompson urged Klopp to invest in his squad in January to enhance the club's top-four prospects.
"I do feel that come January we need to improve the defenders and get an out-and-out striker. If [Borussia Dortmund striker] Pierre-Emerick Aubameyang became available then he should be on our hit list," Thompson told Sky Sports.
"He's brought players in for the defensive positions but while they're good players, none of them are great players who you'd say would make it into the other top five sides," he added.
"I think that tells you where we are at with our defence at the moment, so I think that is going to continue to until he is really able to address it.
"I don't believe the Virgil van Dijk signing alone would have solved our problems. He'd improve our defence but I don't think he's the sort of vocal leader who would sort it out. I'd like to see a more physical and commanding presence in the side."