Raheem Sterling's move to Manchester City was finally completed on Tuesday, after months of speculation.
The 20-year-old made his £49 million move to the Etihad Stadium after a five-year spell at Liverpool.
The Reds will pocket around £40 million after Queens Park Rangers take their cut, and they will need to use that money wisely, to replace a player who got plenty of goals and assists for Liverpool.
But should those funds be spent on another winger to directly replace Sterling, or should they be used to strengthen elsewhere?
Who can replace Sterling at Liverpool?
Liverpool splashed out £20 million on Lazar Markovic last summer and in his first year, he was mainly played out of position - but there is still plenty of promise around the Serbian.
When he did play in an attacking position he showed glimpses of his price tag and managed to score a well-taken goal against Tottenham Hotspur in an attacking role.
Markovic also featured in an attacking role in Liverpool's first pre-season friendly on Tuesday, and even managed to score, after rounding the keeper and finishing well.
Now, with Sterling out of the picture, Markovic will hoping to be played in his preferred role and will also be hoping to finally kick start his Liverpool career.
Elsewhere, Jordon Ibe broke into the first Liverpool first team last season, after being recalled from a loan spell in January. Similarly to Markovic, he was also played out of position and these two were battling with each other for the role of right wing back, in the starting team.
Ibe has been dubbed the new Sterling and many expect him to exceed Sterling's potential.
The fact he is a year younger and has similar attributes bodes well, and he will be hoping that next season will be the season where he makes his mark for the Reds.
But are they viable options with Sterling having gone?
Who could Liverpool look at to replace Sterling?
The player every Liverpool fan wants to see replace Sterling is German winger, Marco Reus. After Borussia Dortmund's poor season, many expect some of their big players to leave and Reus could be one of them.
The German signed a new contract with his club earlier in the season, but recently he has been linked with a move to Anfield once again.
Now that Liverpool have sold Sterling, it is being reported Liverpool could blow the entire transfer fee they receive, on a move for highly-rated Reus, but what is the likelihood of any move coming to fruition?
Unfortunately, it seems unlikely. Although Reus is a player every Liverpool fan dreams of seeing in a red shirt, it is highly unlikely this move will happen with a lack of Champions League football.
Where else can Liverpool strengthen?
Instead, most Liverpool fans want to see a world class striker come in this summer to make up for the goals than Luis Suarez left with.
One of the best strikers in the world based on current form, Alexandre Lacazette, is available this summer.
The current Lyon striker is available for just £21 million, despite finishing as the Ligue 1 top goal scorer, after scoring 27 goals in 31 league appearances.
However it is expected that Lacazette won't sign for a club that cannot offer him Champions League football and so Liverpool probably cannot expect to be in the running for him.
Elsewhere, Liverpool could also look at investing in a new defensive midfielder following the departure of Steven Gerrard and the continuing doubt over Lucas Leiva's future.
Liverpool have also been heavily linked with Inter Milan midfielder, Mateo Kovacic and the highly-rated Croatian midfielder would cost around £20 million, but again is unlikely to make the move.
Some reports speculate that Liverpool have been and are close to signing him, however others state that Liverpool have no interest what so ever in the defensive midfielder - with sources such as the Liverpool ECHO, which is known to be reliable, dismissing the rumours.
So, what should Liverpool do?
Obviously, there are alternatives to Kovacic, Lacazette and Reus - but these are the high-profile names that supporters are looking to see the club sign after bringing in Roberto Firmino earlier this summer.
It is uncertain who Liverpool will sign next, but what is certain is that Liverpool need to invest the Sterling money a lot better than they did with the Suarez money, or else mediocrity beckons once more.
