Liverpool manager Brendan Rodgers has ruled out bringing in a clutch of new players during the January transfer window despite having funds to strengthen his squad.
Rodgers dismissed speculation linking him with Arsenal's Theo Walcott saying: "There is nothing to say (about Walcott). He is an Arsenal player and it is all speculation about many players at the moment.
"We'll have funds and I'm in talks with the owners at the moment, along with our recruitment team," Rodgers added.
"January is always a difficult window. You don't get too many top, top players.
"Clubs will be unwilling to move on players but we have to scour the country and the world to try to get the types of players that are going to be available and correct for our model of play.
"Obviously we are limited in what we can bring both in terms of availability of players and financially but there is no doubt we need to do that.
"Our scouting team are working hard to identify those talents and who might be available.
"There is no doubt we need that support (from new players) in January and I am very confident we will be able to do that."
Liverpool welcome Newcastle to Anfield on Sunday, with the visitors having won plaudits for their transfer policy under the guidance of scout Graham Carr.
Rodgers, paying tribute to Carr's work under manager Alan Pardew, said: "Scouting at any club is very important. Obviously Alan has gone in there and Graham Carr, as chief scout, has had a big responsibility in getting the players in.
"I think they have bought in really well. (Yohan) Cabaye is a terrific player, an excellent passer of the ball, and the boys up front (Demba Ba and Papiss Cisse) have done well for them."
Liverpool goalkeeper Pepe Reina has been out for four matches with a hamstring problem while defender Glen Johnson has a similar injury.
"Pepe Reina and Glen Johnson are still receiving treatment," said Rodgers.
"Glen has been out on the pitch so we'll see how he goes over the next couple of days. Pepe will be likewise.
"We can't rule them out at this stage but I can't say they are fully fit as yet.
"I made it quite clear Pepe was the number one goalkeeper when I came in here and I've really enjoyed working with him.
"Brad (Jones) was the number three goalkeeper and he has worked his way up to number two and shown what a number two is about; coming in and being solid for the games you are asked to play.
"My decision will be when Pepe is fit. At the minute there is no decision as Brad is clearly playing in goal, he is doing a really good job, working hard to keep himself in the team and give me a decision when Pepe's back."