Liverpool legend Mark Lawrenson has cautioned Brendan Rodgers on making big money moves for either Edinson Cavani or Radamel Falcao this summer.
The Paris Saint-Germain star is unhappy with the French champions and has been linked with a £56m move to Manchester United throughout the summer.
However, the Uruguayan international's agent has revealed the Reds and Arsenal are interested in signing the former Napoli star.
Falcao joined AS Monaco from Atletico Madrid last summer and poor form saw him struggle in the first half of the season.
The Colombian hotshot missed the second part of the previous campaign with a serious knee injury, forcing him to sit out for the World Cup in Brazil.
The former Porto striker is also linked with a £10m loan move to Anfield in the ongoing transfer window, while Real Madrid are believed to be interested in signing him.
Liverpool allowed Cavani's compatriot Luis Suarez to complete his move to Barcelona in July.
Lawrenson says there is no need for Liverpool to panic in finding a successor for Suarez. The former Reds defender believes signing Cavani or Falcao will not guarantee goals next season.
"I see Edinson Cavani and Radamel Falcao have been linked with moves to Liverpool this week. But be warned there is a degree of caution that must be taken with these type of transfers," Lawrenson told the Liverpool Echo.
"But the Reds have to be very careful. The reports are of an initial loan deal but even then we're talking at least £10million in a loan fee before we even discuss his wages."
"If there was an option to buy at the end of his spell and the initial loan fee paid was knocked off the final price tag then that's something I could understand. But to just take him on loan for a year as a short-term solution to Luis Suarez's departure is a huge risk."
"Falcao is coming off the back of a very serious knee injury. He needs to prove his fitness and when you're paying that sort of money then you want guarantees he is a) going to be fit and b) going to score goals."
"Then we move on to Cavani and I can't really make my mind up on him. If he replicated the form he showed at Napoli then he would be a fantastic signing. Recently, though, he's played second fiddle to Zlatan Ibrahimovic at PSG and Suarez with Uruguay so we've not seen him at his very best."
"You look around the market and there isn't a lot out there. There is no great rush to sign a big player and you have to remember, the transfer committee has worked very well over the summer."
"Let's not forget the superb work that has been done already. There is no need to panic," the Anfield favourite concluded.