Carragher warns Liverpool fans of long wait for title challenge
The veteran defender says any Premier League challenge will be a slow burn.
"I don't think we are the type of team that could just go out and spend £200m like [Manchester] City or Chelsea can, and you have virtually guaranteed yourself a good chance of winning the title," he said.
"We have to build a little bit slower than that. The next stage for us is to get into the Champions League, but that will happen.
"Football cycles and we will get back in there and then have a challenge for the title.
"I have come close a couple of times, but hopefully in the future we can go one step further."