LIVERPOOL, Aug 26 ― Liverpool's margin for error in the transfer market is slim compared to their rivals, manager Juergen Klopp said, while acknowledging that it is not easy to work with budget constraints.

Liverpool have signed three players so far, and with the Premier League's transfer window closing on September 1, there are concerns among supporters if the club will have more incoming players in what was expected to be a busy close season at Anfield.

Klopp's side missed out on Champions League qualification after finishing fifth last season behind third-placed rivals Manchester United and Newcastle United in fourth.

Since then, Liverpool have lost as many as six senior players, with former captain Jordan Henderson and Fabinho moving to Saudi Pro League clubs, while fellow midfielders Alex Oxlade-Chamberlain, James Milner, Naby Keita and forward Roberto Firmino leaving on free transfers.

Liverpool have signed midfielders Alexis Mac Allister, Dominik Szoboszlai and Wataru Endo since the exit of these players.

"We have our situation,” the German manager told reporters. "There was one year when money was less of an issue because Phil (Philippe Coutinho) went to Barcelona and we could do two sensational transfers.”

The Merseyside club had strengthened at the back by selling midfielder Coutinho to LaLiga giants Barcelona in 2018 and using the funds to sign Dutch defender and now club skipper Virgil van Dijk before bringing in Brazilian goalkeeper Alisson Becker.

"But we always spend over the years when we have to improve... Since I've been here, we have had to (live within our means). The club has had to, and of course that doesn't make it easier,” Klopp said.

"The problem is not our situation, it's just in comparison to the other main teams. We have to be on point. That's pretty much the thing. There is not a lot of space for failure.”

Liverpool's rivals Chelsea have spent more than US$1 billion in player transfer fees since the new ownership led by Todd Boehly and Clearlake Capital completed their takeover of the club in May 2022.

But Klopp said he is focused on making the best out of the resources available instead of complaining about the spending of other clubs, adding that he cannot recollect "a transfer window where every single person was happy” with Liverpool's business.

"I want to improve the squad, I absolutely do. But I have all the information around and I know what is possible and not possible, and it's not always exactly what I want,” he said.

Liverpool next face Newcastle at St James' Park on Sunday. ― Reuters