Eamon Dunphy believes Liverpool have no chance of ending their long wait for a Premier League title unless they loosen the purse strings at Anfield.
The former Republic of Ireland international and pundit has claimed that Jurgen Klopp's future hinges on what he does in the next transfer window.
The German is known for getting the most out of the players he has, rather than depending on the transfer market to bolster his sides but Dunphy is adamant that this approach will not cut it in the Premier League.
The Top Four is the aim for the rest of this season but Liverpool must spend big over the next few transfer windows to compete with their big-spending rivals. according to Dunphy.
"He is going to be judged by what he does in the next transfer window," he wrote in his column in The Daily Star.
"He has to get a top-class goalkeeper, two or three good defenders and a world class midfielder. No ifs, buts or maybes.
"In the current Premier League climate - with the money being spent by their rivals - they are going to have to invest heavily in his squad. When good players are available, you have got to pay real money to get them.
"If he persists with this bargain basement yellow-pack approach to his defensive shopping, Liverpool will go nowhere.
"Nobody is going to win the Premier League now with a net spend of €7.6m. So that nonsense has to stop."
Dunphy has doubts over whether Spurs can remain in the Top Four as well.
"They like to bully teams. White Hart Lane is a cauldron and their home record is good," he added.
"But away from home they struggle and they can't bully the best teams in the Premier League anyway."