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According to The Mirror, Liverpool are set to put an emphasis on improving the contracts of their current stars rather than embark on another spending spree this summer.

Around this time last year, the Reds splashed out huge sums on the likes of Fabinho, Naby Keita and Alisson Becker, and got their rewards as they lifted the Champions League trophy in Madrid - their sixth major European Cup success.

This year, however, The Mirror believes that an emphasis will be put on improving current contracts rather than bringing new faces in.

You can relive Liverpool's Champions League celebrations in glorious 2D thanks to the guys at 442oons in the video below...

Now, this could be a huge decision. The Reds' title rivals Manchester City are up to their eyeballs in top class players, with their depth consisting of names such as Leroy Sane, Gabriel Jesus and Riyad Mahrez, whereas Liverpool have Divock Origi and Xherdan Shaqiri - they're good players, but just not on the level of City's trio.

Are Liverpool making the right decision in focusing on contract improvements over signings? Football FanCast's writers have their say...

Matt Dawson 

"This Liverpool squad is extremely special and keeping them together by renewing player contracts is the right form of approach. Too many new signings and you could upset the balance of the team. Jurgen Klopp doesn't really need to strengthen so spending their money on new deals for their current crop makes perfect sense. Whether a host of members in their side will be happy to sit on the bench, however, is another matter."

Harry Sherlock

"Liverpool can’t really improve much. They pushed the best team the Premier League has ever seen all the way in the Premier League and won the Champions League to boot. They could perhaps do with a genuinely exceptional attacking midfielder but those don’t grow on trees and to get them, you have to pay in excess of £50m. Keeping those already at the club, then, makes complete sense."

Luke Glanville

"Aside from a couple of areas that could do with a little touch up, Liverpool don't need to really do anything in the way of recruiting in the summer transfer window. I genuinely believe that they could do nothing all summer and go out and still challenge for all the major trophies next season, which is why focusing on securing their current assets rather than chasing new ones can't hurt them. They could then save their money, sit down in January and make some big signings if need be, mid-way through the campaign."