The paper says that the club's owners will keep Kenny Dalglish as manager despite the Reds lying only eighth in the table, but he won't get anything like the £108 million he has spent since taking over.
That money was spent on just six players: Luis Suarez, Charlie Adam, Stewart Downing, Jose Enrique, Andy Carroll and Jordan Henderson.
"The club's American owners, Fenway Sports Group, have decided to rein in the huge spending - a move which could actually benefit Dalglish, who is now more likely to give some of last year’s big-name signings a second crack at proving themselves rather than sign replacements," explains the paper.
Manchester United are another club whose fanbase is hungry for new signings but Arsenal have now joined the race for one of their reported targets.
Borussia Dortmund's Japanese midfielder Shinji Kagawa has long been linked with a move to Old Trafford but now the Gunners are keen on the 23-year-old, who could be allowed to leave for around £7m this summer, because his contract expires next year. (Daily Mirror)
Another international star who could be moving to the Premier League is Napoli's Uruguayan striker Edinson Cavani.
Manchester City hope Napoli's potential failure to qualify for the Champions League will persuade him to move to the Premier League. Napoli are currently fifth with one game to play in Serie A and need to finish in the top three to qualify again for the Champions League. (Daily Mail)
Manchester United have written to the FA to tell the governing body that Ryan Giggs is the only over-age player they will release for the Olympics. That means that GB boss Stuart Pearce should forget about selecting the likes of Wayne Rooney Paul Scholes, Rio Ferdinand or Jonny Evans. (The Sun)
Police in Portugal are planning to question Manchester United about the club's £7.2m signing of Bebe from the Portuguese club Vitoria Guimaraes, as part of their criminal investigation into the deal. (The Guardian)
A spokesman for United said: "Clearly if the police ask us for information, we will co-operate with them. Nobody is suggesting that we have done anything wrong."
Mark Hughes will pick up a £1m bonus if he keeps Queens Park Rangers in the Premier League as part of the deal agreed with owner Tony Fernandes when he was appointed manager in January. (Daily Express)
Chelsea are looking to beat Liverpool to Partizan Belgrade's 18-year-old attacking midfielder Lazar Markovic . Tottenham are also interested but Partizan want around £16m and would also like to have him back on loan. (Daily Mail)
Roger Johnson has endured a nightmare spell signing moving from Birmingham to Wolves but he is now wanted by ambitious Sheffield Wednesday who have just been promoted back to the Championship after two years in League One. (Daily Mail)
Germany manager and reported Chelsea target Joachim Loew has said that he is staying with the country until the 2014 World Cup. However, Pep Guardiola remains Roman Abramovich's number one target despite the Barcelona coach's insistence he wants to have a break. (The Times)
And finally, Hugo Rodallega is set to leave Wigan this summer. The Latics are resigned to losing the Colombian hitman along with keeper Chris Kirkland , midfielder Mohamed Diame and defender Steve Gohouri who are all out of contract. (The Sun)