Liverpool owner John W Henry believes the squad must be strengthened if the Reds are to climb towards the top end of the Premier League table.
After the club endured a difficult start to the campaign, back-to-back victories over Blackburn Rovers and Bolton Wanderers have aided their cause significantly.
The American's New England Sports Ventures group purchased the Merseyside giants from Tom Hicks and George Gillett last month and Henry now wants to take the club forward.
With Damien Comolli havng been appointed as the new director of football, Henry believes the decision to bring the Frenchman to Anfield will be received by team manager Roy Hodgson with open arms.
"We're not deep enough. We don't have enough youth," he said."If you look at Manchester United and Arsenal they have depth.
"They have relatively young teams and that's something that he (Comolli) can help us with.
"When I first met with Roy it was really clear that he wanted someone in that position, so I really didn't talk that much with Roy over the week or so before we made the decision to bring Damien in.
"So I think he may have been surprised when I brought it up, but he's fully supportive. He knows Damien. I think the model really requires people of certain personalities for it to work and Roy and Damien are two personalities that will mesh well together.
"It will be a group decision. You build consensus. I think it's a very good model, but though each will be in charge of their own areas.
"We're still building a team. We're in the middle of building that. We may make some mistakes early on, but we're going to try and avoid that and we're studying every day."