Roy Hodgson takes over a Liverpool squad low on confidence after finishing seventh in the Barclays Premier League and in desperate need of strengthening.
Here we look at who the Englishman should be looking to keep and who he should be moving on.
JOSE REINA - The best goalkeeper in the Premier League and absolutely invaluable. KEEP.
GLEN JOHNSON - Did enough in his debut season to suggest he had a future at the club. KEEP.
PHILIPP DEGEN - Struggled to establish himself in two seasons at Anfield. SELL.
JAMIE CARRAGHER - Approaching the end of his career but Liverpool's defence looks less of a unit without his organisational skills. KEEP.
DANIEL AGGER - Hampered by injuries but is comfortable on the ball and provides a cool head at the back. KEEP.
MARTIN SKRTEL - Has shown he is good enough to prevent Hodgson wasting his resources looking for a replacement. KEEP.
SOTIRIOS KYRGIAKOS - His aerial power proved useful on occasions. Unlikely to command a significant fee. KEEP.
EMILIANO INSUA - Over-played due to a lack of cover and that was to his detriment. Would provide more than adequate support for a short-term. KEEP.
JAVIER MASCHERANO - Probably the best defensive midfielder in the world but despite his near-permanent place in the side never seems to be far away from transfer rumours. Would raise a decent amount of cash to be used in more important areas. SELL.
LUCAS LEIVA - The much-maligned Brazilian has suffered from being asked to play a holding position and deserves a chance to prove his worth in a more familiar role. KEEP.
DIRK KUYT - Lost his goalscoring edge after being posted on the right wing. Hardworking, he would benefit from being re
stored to the centre. KEEP.
STEVEN GERRARD - With Real madrid sniffing around the manager will have to put up a persuasive argument to keep the 30-year-old but Liverpool would be considerably worse off without him. KEEP.
ALBERTO AQUILANI - Injuries hindered his first season but, in the right formation could provide the necessary ammunition. KEEP.
MAXI RODRIGUEZ - His five months suggested his progression into a consistent performer will not take long. KEEP.
YOSSI BENAYOUN - On his way to Chelsea. SELL.
ALBERT RIERA - Outspoken and inconsistent. SELL.
FERNANDO TORRES - Has expressed his unhappiness at the shape of the club and although his sale would bring in the sort of money that would undoubtedly help with the rebuilding process it would be viewed disastrously by fans. KEEP.
RYAN BABEL - The Dutchman has had numerous second chances after failing to deliver on his much-vaunted potential. SELL.
DAVID NGOG - Not much profit to be made on their £1m outlay so it may be best for Hodgson to see if he can mould him into a decent prospect. KEEP.