Jurgen Klopp acknowledged on Friday that his failing Liverpool team requires a renovation and claimed he accepted a new contract last season to manage the Anfield restoration project.
After this week's humiliating 5-2 loss to Real Madrid in the first leg of their last-16 Champions League match, Liverpool's current campaign is at risk of imploding.
Liverpool is already eliminated from both domestic club tournaments and trails Premier League leaders Arsenal by 19 points from completing an unprecedented quadruple last season.
Klopp has come under fire for not replacing the team, especially his ageing midfield, but the German manager insisted that "splashing the money" would not work at Anfield.
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Instead, the club adopted a more calculated strategy. James Milner, Alex Oxlade-Chamberlain, Naby Keita, striker Roberto Firmino, and backup goalkeeper Adrian all have contracts that expire in June, so there may be a lot of trade action.
Knowing that significant adjustments are essential, Klopp renewed his contract from April 2017 through 2026.
The Reds manager, whose team is playing away at Crystal Palace on Saturday, added, "We know we have to change things, and we will." "We cannot accomplish that now, but we must take action this summer.
"This club is not run by throwing money around and waiting to see if it pays off. Our transfers must always be precise".
"We can only make four moves after we get a list of the club's departing players. I signed a new contract because, among other things, I knew it would not be easy.
Although Klopp acknowledged that some fans may be frustrated, he was emphatic that "last season was not a season for huge change."
Liverpool finished second to Manchester City in the Premier League and lost to Real Madrid in the Champions League final, but went on to win the FA Cup and League Cup.
We battled to the bitter end, and if you want to alter things at this club, you can't just sign new players and find out that nobody wants to leave, according to Klopp. "That's not how it operates.
"We had final after final after final, played the season till the very end, played the Champions League final and then we had a brief break, then we had a lot of injuries, and the World Cup. It is not possible to start it (transfer planning) early."
Despite their difficulties, Liverpool only trailed fourth-place Tottenham by seven points with two games remaining, and Klopp insisted that not all was lost.
Even though not everything around us is incorrect, according to Klopp, most things are also wrong. "We realize we need to do better".
"You can lose against Real Madrid, but I doubt many teams could give them the difficulties we did in the opening 20 minutes. It denotes excellence.
