Jamie Carragher has warned Liverpool that “spending lots of money” won’t guarantee them the Premier League title after the Reds won the trophy with four matches to spare last season.

Arne Slot has so far recruited five senior players this summer in Florian Wirtz, Milos Kerkez, Hugo Ekitike, Jeremie Frimpong and Armin Pecsi and it is looking increasingly likely that Newcastle’s Alexander Isak could join.

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The Reds are also pursuing Crystal Palace central defender Marc Guehi but Liverpool legend Carragher believes any success comes down to balance over spending.

“I don’t get this narrative that Liverpool are going to run away with it,” Carragher said.

“If you look at history, it could tell you that it’s not just about having the best players, it’s about having the best team, and sort of making that balance right, and at the weekend [in the Community Shield] it didn’t quite look right.

“I think we will have a title race, and I think there’s a lot of talk. I think the great thing about football is what we actually saw on Sunday with Liverpool. It didn’t look right. It tells me it’s not just about spending lots of money and buying the best players, you’ve still got to manage that team and make it work and have a nice balance to it.”