Liverpool head coach Arne Slot has showed so far this season that it was the right decision to not panic buy during the summer transfer window. With the January window open on Wednesday the question remains whether the Reds need to bolster their ranks ahead of the second-half of the campaign which could catapult them to domestic and European success.

Federico Chiesa's early career at Anfield has been underwhelming after injuries and fitness hampered his first-team involvement, following his £10million move in the summer. However, opportunistic signings such as the Italian - who played a starring role in his country's European Championships triumph in 2021 - have been the target, as newly-appointed sporting director Richard Hughes revealed in July.

For Liverpool, there are three key decisions to make that outweigh the need to sign fresh blood next month - which is a resolution regarding the future of Mohamed Salah, Trent Alexander-Arnold and captain Virgil van Dijk.

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The beginning of 2025 has all the hallmarks of being a quiet month off the pitch, while on it Slot's side will be looking to move a step further to successfully defending the League Cup and extending their lead at the top of the Premier League - with clashes against Manchester United, Nottingham Forest, Brentford and Ipswich Town pencilled into the calendar.

Best case scenario

The best case scenario for Liverpool would be tying down all, if not at least two, of their three stars set to be free agents in the summer. All three hold as much importance as the other, in the context of their role within the first-team. Van Dijk has been ever-present since the arrival of the Dutch head coach with no player playing more minutes than the skipper.

The centre-back is the eldest out of the three, one year older than Salah - who continues to eclipse records in front of him. The Egyptian is the top goalscorer in the Premier League and is also pulling his weight in terms of providing for the club - picking up two assists in the Reds' latest win.

Alexander-Arnold is probably one of the most complex situations with extensive interest from Real Madrid. After finding the back of the net against West Ham last time out, his celebration seemed to send a message amid the ongoing reports but the threat of Los Blancos is still prominent.

The turn of the year also spells the opportunity for the trio to open negotiations with overseas clubs over pre-contract agreements. While Slot has poured cold water on what impact that has on the team, it only makes the upcoming 31 days a target for the transfer rumour mill.

Ryan Gravenberch has been one of the winners from the first half of the campaign. A matter of months after Liverpool failed in their efforts to sign Martin Zubimendi, the Dutchman has showed why he was so highly rated at Ajax and Bayern Munich, before his move to the Premier League.

To make it a perfect January window, a bargain addition in the heart of the midfield would provide competition for Gravenberch but more importantly, hand him some respite with the Reds battling on three fronts - which will become four when they host League Two side Accrington Stanley at the beginning of the year.

There is further argument to reinforce the backline with Joe Gomez joining Ibrahima Konate and Conor Bradley on the treatment table. Meanwhile, with Van Dijk's reliability comes the threat of injury for the Dutchman and Liverpool supporters are more than aware of what impact his absence has on the rest of the squad - and this time around what possible implications it can have on the Premier League title race.

Two opportunistic additions in midfield and at the back, as well as extensions for at least two of Van Dijk, Salah and Alexander-Arnold would make for the best scenario for the Reds.

Worst case scenario

With no real threat to any of Liverpool's players being lured away from the club in January, there should be little concern over maintaining their key players - especially in the heat of a Premier League title battle.

However, there is the possibility, albeit a faint one as it stands, that all three players fail to agree to fresh terms and officially becoming free agents at the end of the summer.

Talks are ongoing between the trio. The ECHO reported back in September how Salah was desperate to stay put on Merseyside, where he is settled with family, while Van Dijk hasn't shied away from expressing his love for the club.

Allowing the three to run their contracts down has already prompted criticism but allowing it to feed into the closing months of the season could be fatal to their time at Anfield and in the title race.

In addition, injury to Van Dijk without adding to the defensive ranks would have a significant impact on Slot's side. Liverpool being without their captain and key man could galvanise Arsenal - and even Manchester City - to mount their challenge and usurp the Reds from the top of the table.