The club are heading towards a third successive season outside the Champions League, a tournament they won as recently as 2005.
And owner John Henry has made it clear he simply will not fund the kind of massive signings splashed out on during Kenny Dalglish's ill-fated 18 months in charge.
"The reality is we don't have the money that was here," he said.
"I don't have a bucket load of money to go and get in a load of players.
"We have to be strategic."