Brendan Rodgers is monitoring the future of midfielder Gylfi Sigurdsson - but he insists former club Swansea must be given a chance to persuade the Icelandic star to remain at the Liberty Stadium.
Sigurdsson tallied seven goals in 19 games after Rodgers brought him to Swansea on a loan agreement in January.
His performances in March earned him the Barclays Premier League Player of the Month.
For now the 22-year-old remains a Hoffenheim player but if a permanent move to English football is to transpire, Rodgers accepts that Swansea head the queue.
In an interview at Melwood, where he is already making plans for next season, the new Reds manager spoke to Liverpoolfc.tv about Sigurdsson as well as the future of Joe Cole.
On the former, Rodgers said: "First and foremost, Gylfi is a Hoffenheim player.
"I took him on loan for the second half of last season and he did very, very well. He scored seven goals and made a real, positive contribution.
"I wanted to sign him for Swansea but, like I've said to him and his representatives, that has to be his first port of call.
"If he comes into the market for whatever reason - and I'm sure there'll be a number of clubs interested in Gylfi - then of course I would like to be in a position to put our case here at Liverpool to sign him.
"But I've always said, I think he's a player Swansea have had an agreement with and they have to have every chance to try and sign him. That's only right.
"If anything changes from that, we'll look at it from there."
Rodgers has a shortlist of players he wants to tempt to Liverpool but, beyond clarifying his position on Sigurdsson, he is reluctant to make public his intentions.
"I like to very much keep my counsel on potential targets," he said.
"I think there are a few players who can come in and improve the group straight away.
"I know the types of player I need to bring here to make us function well and that's something myself, the club and the board will look at.
"The problem with a club like Liverpool is they get linked with every player going. It looks like, with every player linked plus the players we've already got, we're going to have five or six teams next year.
"That's the way of the world these days. Every player wants to play for Liverpool. The magnitude, the size and the history of the club, and the quality of the people here in the city, means people will want to come and play here.
"The problem is, everyone can't.
"I know what we've got, more or less, in the squad, but I also know there are a couple of signings that could really improve what we do.
"That's something we'll work together on over the course of the summer and hopefully we can get one or two in."
As well as new names that could appear on the Liverpool teamsheet next term, Rodgers is also keen to give a fresh start to those already in the squad.
One player whose Anfield career could be revived is Cole.
The 30-year-old spent last season on loan at French side Lille, scoring nine goals in 42 appearances.
However, he is now set to return to Merseyside for pre-season following a meeting with Rodgers, who will assess Cole and other players as the Reds prepare for their 2012-13 campaign.
"I met up with Joe Cole when I was in Spain," said the boss.
"I certainly know he's looking to come back. I've got to assess all the players.
"With the likes of Joe - he's a very talented player. He's obviously gone out to Lille and done very well and he has the opportunity to come back here and show his qualities.
"For me it's fresh for everyone. I'll be new into the club. Of course I know lots of the players and their qualities but Joe is obviously a player who'll want to come back and show his worth to the group.
"There are a lot of players I'm aware of and they wouldn't be at Liverpool if they didn't have the qualities.
"I suppose going forward and over the course of pre-season I just need to decide the types of players who are going to fit into the function and the philosophy and the structure of the team.
"When a new manager comes into any club, it always sparks off that renewed motivation for players.
"The cycle with Kenny was a terrific cycle but I'm a different tactician and a different type of person and that will give all the players an opportunity to perform."
Rodgers spoke at length to club captain Steven Gerrard before being announced as Kenny Dalglish's replacement - and in the last two weeks further discussions have taken place with other senior stars.
"I've had constant communication with Steven through texts and whatnot," said Rodgers. "I've spoken to Jamie Carragher at good length and I spoke to Luis Suarez the other day, which was nice. I've had good contact with one or two of the other players as well.
"The players have been very good."
Rodgers will have to wait several more weeks before he can work with his new squad, many of whom are competing in the European Championships.
The Northern Irishman has kept an eye on matches taking place in Ukraine and Poland - but his main focus has been on familiarising himself with the corridors of Melwood.
And when the TV is switched on, Rodgers has been just as interested in the men in the studio as those on the pitch.
He explained: "I've watched a bit of it but I can't say I've watched every single game because I've been working here at Melwood until late at night and trying to throw every second of my time into looking at ways for us to move forward.
"I've obviously taken an interest in England and particularly our boys who are involved. I've also taken an interest in Jamie Carragher as a pundit!
"He is a wonderful character. We had a good chat after the press conference. He's a good guy. He's a wonderful representation of this club.
"This club is full of legends of the game and we've got two current ones in terms of Steven Gerrard and Jamie Carragher. I can relate to people like that - people who have passion for the club and the city.
"He takes a real interest in his football. He's got a real passion and love for it and I'm sure once his playing days are finished he'll move onto that side but for now he's still got a terrific contribution to make for us as a team and as a group.
"I am really looking forward to working with him."
Though not watching every game himself, Rodgers does have a team of scouts monitoring players at the Euros.
"There are people and coverage," he said.
"A club like this, the network of scouts has to cover the big tournaments and other games, so there'll be extensive coverage out there on behalf of the club."