How we think the Merseysiders will get on over the next 12 months.
Last season was a real return to form for Liverpool, who eventually finished second in the Premier League behind Manchester City and came so close to winning their first league title since 1990.
The next 12 months will be a real test for manager Brendan Rodgers to see if he can emulate that success, especially after the £75m sale of Luis Suarez to FC Barcelona.
Here CaughtOffside analyses the upcoming 2014/15 campaign for the Reds.
Brondby 2-1 Liverpool (Kristoffer Peterson).
Preston North End 1-2 Liverpool (Suso, Peterson).
AS Roma 1-0 Liverpool.
Liverpool 1-0 Olympiakos (Raheem Sterling).
Manchester City 2-2 Liverpool – Liverpool won on penalties (Jordan Henderson, Sterling).
AC Milan 0-2 Liverpool (Joe Allen, Suso).
Manchester United 3-1 Liverpool (Steven Gerrard).
Liverpool 4-0 Borussia Dortmund (Daniel Sturridge, Dejan Lovren, Philippe Coutinho, Henderson).
Rickie Lambert, Southampton – £4m.
Adam Lallana, Southampton – £25m.
Emre Can, Bayer Leverkusen – £10m.
Lazar Markovic, Benfica – £20m)
Dejan Lovren, Southampton – £20m.
Divock Origi, Lille – £10m.
Javier Manquillo, Atletico Madrid – Loan.
Luis Alberto, Malaga – Loan.
Michael Ngoo – Released.
Stephen Sama – Released.
Iago Aspas, Sevilla – Loan.
Andre Wisdom, West Bromwich Albion – Loan.
Divock Origi, Lille – Loan.
Conor Coady, Huddersfield Town – Undisclosed.
Brad Smith, Swindon Town – Loan.
Pepe Reina, Bayern Munich – Undisclosed.
Luis Suarez, FC Barcelona – £75m.