Liverpool’s only incomings so far have been Spain winger Victor Munoz from Osasuna for £34.5M and centre-back Jeremy Jacquet for £60M.
This is despite losing Ibrahima Konate, Mohamed Salah and Andrew Robertson for free this summer in what are huge blows after helping the club to every trophy possible over the past several years.
In his first press conference since being named as the replacement for Arne Slot at Anfield, Iraola was honest and revealed that he knows the club need fresh faces in a side who finished 5th last season in the Premier League.
"It is a big challenge for me. It is a big change. Here, most weeks we will not have a clean week, we will have a midweek game, but it is a great opportunity.
"There is a chance to use more players. It is impossible to deal with this kind of season with 15 players. You need the squad.
"We have to get ready because this kind of hard season, injuries and situations will happen. We have to get ready in squad depth to deal with the demands of the competition. December and January. Those months are hard.
“We've signed two players, we need more, we know this. We are working on this. As a coach I want the players here from day one, selfishly, but we know it doesn't work like this, we're working hard for those signings."
Replacing Robertson and Salah is imperative to Liverpool’s success and there is no doubt that the club will do everything to make sure their gaps are filled.