Brendan Rodgers has hinted that Liverpool are unlikely to splash the cash on established players in the summer as they look to sign young players who can improve the Reds' starting XI.

The Merseyside club will see their captain Steven Gerrard end his long-term Anfield career at the end of the season. Last summer, Liverpool went on a record-breaking spree as they spent £116m ($176.17m) on nine players.

The former Swansea manager admitted that finding a replacement for Gerrard will be a priority, but confirmed there will be no repetition of last year's spending spree this summer.

Rodgers also confirmed the club owners Fenway Sports Group are not looking to change Liverpool's transfer policy.

"The owners have great belief in their model. How they work has brought them success in their many businesses. They are not about to rip up the plan," Rodgers told the Liverpool Echo.

"They will continue to support the work they believe in which is wanting to get young players in who can be developed."

"If there's a possibility of a senior player who can help the team and the value is right and that availability and affordability is there for them then I'm sure they will look at it."

"Yes, the likes of Stevie are moving on and that's something we have to deal with, but I think the nucleus of the squad will hopefully be the same next season."

"We need to bring in a few players to improve the starting XI but it certainly won't be as many as last summer. It will be more settled. We have to look to improve the team and that's going to be critical for us," Liverpool manager added.

Rodgers earlier admitted that Liverpool's aim was to improve the squad in the upcoming transfer window.

"The ambition is, of course, to be much greater and better than that, so we have to be planning forward. That means bringing in players in the summer and that's something that's well underway and we'll look forward to that," Rodgers explained.

"This year was an opportunity and I think next year will be an even greater opportunity for us again to kick on and keep improving."

The Anfield club have failed to replicate last season's success this term. They were knocked out in the semi- finals from two cup competitions and eliminated in the group stages of the Champions League.