With just over a week remaining in the transfer window, Liverpool supporters are abuzz with speculation. Despite a staggering summer expenditure of nearly £450 million, many fans feel further reinforcements are necessary to strengthen the squad.

The injury list hasn’t helped matters, with Alexander Isak, Giovanni Leoni, and Conor Bradley all sidelined for extended periods. Leoni and Bradley are particularly unfortunate, as they’ll miss the rest of the season.

The pressing question is whether Liverpool will maintain their restrained approach this January, or if they’ll make a decisive move in the final week. Our Reds correspondent, Lewis Steele, delves into the potential strategies.

So far, January has been a quiet month for Liverpool in terms of major signings, a stark contrast to their lavish spending spree last summer.

While no new first-team players have joined, the club has strategically signed three young defenders. These acquisitions are aimed at strengthening the club’s future prospects and enhancing their youth development program.

What might have gone unnoticed amid the substantial summer spending is Liverpool’s success in generating funds through player sales. Much of this revenue came from homegrown talents and players acquired during their teenage years, such as Trent Alexander-Arnold, Caoimhin Kelleher, Ben Doak, Tyler Morton, and Jarell Quansah.

Liverpool are now trying to build the next generation of youngsters. Whether they become first-team stars or end up being sold on, it is seen by many as a win-win. Mor Talla Ndiaye joined for £1million from Amitie, the Senegalese club, while Ifeanyi Ndukwe will move from Austria Vienna. Both of those starred at the Under-17 World Cup, which was swarming with scouts. Ndukwe should officially sign when he turns 18.

Ifeanyi Ndukwe will move to Liverpool from Austria Vienna after starring for Austria in the Under-17 World Cup

Mor Talla Ndiaye, 18, has joined for £1million from Senegalese club Amitie

A third centre back, 19-year-old Noah Adekoya, has joined from Burnley.

Matt Newberry, former head of academy recruitment, is now in charge of acquiring global talent and he has been credited in playing an integral role in this recent drive.

Where do they still need to strengthen?

A centre back and a forward.

That has been clear for some time but, with just over a week remaining of this transfer window, it seems unlikely that Liverpool will sign anyone this month – however, nothing is certain in this life so you fans can keep hoping.

Liverpool had tried to sign two players who have ended up at Manchester City. They had been in talks with Antoine Semenyo’s advisers since mid-autumn and we know they were on the verge of signing Marc Guehi in August only for a deal to fall through.

Losing out on both of those, whatever Slot or others at the club may say, is a big blow. The money did not make sense in the end for Guehi and Semenyo simply wanted to play under Pep Guardiola so there are mitigating factors to both near-misses but either could have been fine signings.

These two positions will both be in focus in the summer, too.

Liverpool were on the verge of signing Marc Guehi in the summer but this month the money did not make sense and he joined Manchester City instead 

Which players are they targeting?

Reports earlier in the month suggested Club Bruges defender Joel Ordonez was on the verge of a move to Anfield but that was dismissed as untrue.

The Ecuadorian could be one to watch more broadly – not necessarily for Liverpool but other top teams – this summer and is valued at around £42m.

Yan Diomande of RB Leipzig and Said El Mala of Cologne have both been watched, as reported by Daily Mail Sport earlier this month, and Liverpool are in the process of drawing up a shortlist of targets. Diomande, who has seven goals and four assists this season, would command a big fee.

Sheffield Wednesday left back Yisa Alao, 17, was scouted for some time but Chelsea are reportedly set to pip Liverpool to his signature.

Sheffield Wednesday left back Yisa Alao, 17, was scouted for some time by Liverpool but Chelsea look set to win his signature

What progress has been made on signings for the summer?

There will have been lots of progress – just all in the background and this is always the case for top clubs. Centre back target lists will be being drawn up as this position is seen as a priority. Though some of that does depend on what happens with the future of out-of-contract Frenchman Ibrahima Konate. 

So far, no agreement has been reached with the defender to renew his deal with the two parties seemingly apart in terms of their financial demands.

Tottenham defender Micky van de Ven shares an agent with Reds midfielder Ryan Gravenberch in Jose Fortes Rodriguez, and is said to be keen to move on from Spurs.

Rennes’s Jeremy Jacquet, the 20-year-old who is from the same commune as Kylian Mbappe, William Saliba and Randal Kolo Muani, is high on Chelsea’s list but Liverpool and Bayern Munich are said to be keeping an eye from afar on the £55m-rated youngster. Chelsea are worried that other clubs could pip them to his signature so are doing all they can to tie him down this month if they can find the right price.

After selling Guehi this month and with Jean-Philippe Mateta signalling his intention to leave, there is a widespread belief in the industry that Adam Wharton could be the next man to head for the exit door at Crystal Palace. Liverpool would be keen on the England international, according to sources, if a deal could be done with an £80m fee floated by some, though they would face competition from many teams.

Andy Robertson is out of contract in the summer so a new left back could also be needed. Kostas Tsimikas is still on the club’s books but struggling for game time at Roma.

Adam Wharton (right) could be the next man to head for the exit door at Crystal Palace. Liverpool would be keen on the England international but he may cost up to £80m 

Who could still leave this month?

It would be foolish of Liverpool to let any first-team players leave this month. There has been interest from Italy in Federico Chiesa, with Juventus and Napoli keen on taking him on loan – but the Reds have no plans to allow the forward to leave unless a suitable fee comes in. The Italian has just suffered a minor injury.

There is lots of loan interest in young players, with left back Luke Chambers joining Championship club Charlton this week.

There has been interest from Italy in Federico Chiesa, with Juventus and Napoli keen on taking him on loan – but the Reds would want a fee before agreeing to let him go 

James McConnell was recalled from Ajax earlier in the window due to him falling out of favour following the sacking of John Heitinga as manager. 

The midfielder returned from his stint in Amsterdam with an injury but several second-tier teams are keeping tabs in case he is fit enough to go out on loan again this week.

Defender Rhys Williams could leave on loan. Harvey Elliott is on loan at Aston Villa – both the Midlands club and Liverpool are tight-lipped on what will happen with him, with neither understandably wanting to forgo any unnecessary money.