FSG will make over £100 million available to Liverpool manager Jurgen Klopp this summer.
The Telegraph says the Reds are preparing to splash the cash having qualified for the Champions League, and they are set to break the £35m club-record fee.
Southampton's Virgil van Dijk remains a £50m priority target, while Roma's Mohamed Salah, Arsenal's Alex Oxlade-Chamberlain and Borussia Dortmund's Christian Pulisic are all on Jurgen Klopp's radar.
A number of top-class strikers are being considered, although Liverpool are remaining cautious on who they go for.