Liverpool are to sell Raheem Sterling to Manchester City, report The BBC, and will receive a fee of £49 million.
The Reds have already been busy in the transfer market this summer and it is unclear how much of it will be available to spend.
Assuming a large portion will be made available to Brendan Rodgers, here are five potential targets for Liverpool to splash out on.
Real Madrid winger Denis Cheryshev is already on Liverpool's radar, according to The Mirror. He was on loan at Sevilla last season, and has a bright future ahead of him. The 24-year-old is a Russian international and can be a star in his own right if he moves to Liverpool, rather than the bit-part role which awaits him in Madrid next season.
Lyon striker Lacazette stepped up hugely last season, winning Ligue 1's golden boot ahead of Zlatan Ibrahimovic and Edinson Cavani. The French international is the perfect striker for Liverpool, also capable of playing out wide, and the Reds could potentially snap him up if they invest the majority of the Sterling fee.
Aston Villa striker Christian Benteke was strongly linked with Liverpool before Sterling was sold, and a potential move is now only going to be more likely. As reported by The Mirror, Benteke has a £32.5 million release clause, and is not a like for like player for the City bound winger, but he would certainly improve Liverpool's current strike options.
The biggest way to make a splash would be to sign a player previously considered unattainable, who is clearly a better player than Raheem Sterling. Marco Reus ticks both these boxes, and while he appears committed to Borussia Dortmund, a huge offer could tempt club and player into a blockbuster deal.