Brendan Rodgers feels it will be tricky for Liverpool to recruit world-class players without obtaining elite European football.
The Reds are destined to miss out on a top-four finish this season following back-to-back losses to Manchester United and Arsenal which has them seven points behind fourth-placed Manchester City who meet Crystal Palace on Monday night.
When posed with the question of how he can lure top players to Anfield, Rodgers admits the task will be made difficult if Liverpool remain out of the Champions League - Europe's premier club competition.
"Liverpool is a phenomenal club that players want to play for but, of course, players want to play at the top level of the game and if you are not in the Champions League it makes it difficult for you," Rodgers said.
"We know that but we just have to continue to fight in order to be a stable club. We want to be in the Champions League - that is important and key for us - but it is highly unlikely this year.
"I wouldn't expect the others to slip up and then add to that the growing number of players we have got unavailable and I think it will make it very difficult."