Liverpool legend Jamie Carragher referenced both Chelsea and Manchester United when discussing how much the Reds may need to spend to return to the top of the Premier League.
Liverpool currently sit in sixth place in the league, having won four of their last five matches.
Jurgen Klopp's side have seen an upturn in form in recent months, after they managed to record victory in just two of their opening eight games.
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But they suffered a disappointing 3-1 defeat to Brentford on Monday night, with some aspects of the midfield performance and poor defending from set pieces seen as key reasons behind the loss.
Carragher was critical of Liverpool's transfer department after the game for their lack of investment in midfield in recent seasons, with Thiago Alcantara the only permanent addition in the area since 2019.
And he went into further detail on how much Liverpool may need to spend to once again compete with the top sides in the Premier League, with leaders Arsenal 16 points ahead of them after 17 games this term.
Carragher aims dig at Man Utd, Chelsea, discusses Liverpool squad issue
Carragher told Sky Sports (quotes via Manchester Evening News): "When you look at the age profile of a lot of the players within the [Liverpool] squad, they've got a lot of players in their 30s, or coming into their 30s, who have been great for the club.
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"But that is one of the reasons why the ownership is up for sale, or they're looking for investment, because Liverpool are going to need to go big in the summer.
"You look at what Chelsea and Manchester United spent in the summer, and they're still not close to winning the title. So it shows you the kind of funds that you need to compete at the top of the league. Liverpool have, year in and year out, sold someone, bought someone.
"It's a case now where Liverpool need to spend about £200 million. I'm not saying that's the secret to success - and there's lots of teams who have shown it doesn't necessarily work - but Liverpool need to sign maybe three midfield players, I would say."
United spent around £200 million on Casemiro, Lisandro Martinez and Antony in the summer, with Erik ten Hag making significant improvements to his squad.
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Casemiro has been the most successful of the trio so far, with Martinez also impressing. Antony has not been in top form since the World Cup break, but did score three goals in his first six Premier League games for the club.
Ten Hag's side sit fourth, having won all three of their post-World Cup matches, but they themselves are 12 points behind Arsenal.
Chelsea, meanwhile, spent around £250 million in the previous window and, having sacked Thomas Tuchel in September, sit 18 points behind Arsenal in eighth under Graham Potter.
Topics: Liverpool, Manchester United, Chelsea, Jamie Carragher, Premier League, Transfers