Liverpool are arguably the most successful English team of all time. The Merseyside club have won six UEFA Champions League titles, three more than any other English side. However, their record in the Premier League era leaves a lot to be desired.The Jurgen Klopp-coached side won their first Premier League title almost three decades after the competition's inception. There was also a phase during the early 2010s when the English giants failed to even qualify for Europe's elite competition - the Champions League.Liverpool's transfers have improved drastically after the arrival of Jurgen KloppThe main reason for the Reds' failure since the rebranding of the English league has got to do with poor transfers.The Reds had a subpar transfer strategy before the arrival of Jurgen Klopp and Michael Edwards. Most of their big-money signings didn't make an impact on the team's fortunes.ESPN UK@ESPNUKLiverpool's transfer guru Michael Edwards will leave the club at the end of the season. Some of his business has been inspired 12:18 PM · Nov 11, 20213832287Liverpool's transfer guru Michael Edwards will leave the club at the end of the season. Some of his business has been inspired 👏💰 https://t.co/f5AZe2CcnxIf there is one position where Liverpool haven't struggled during the Premier League, it has to be the striker role.Nevertheless, there have been many expensive strikers who have failed at the club. Many of them comprise the list of top five Reds flops in the last three decades. Here's a look at the same:#5 Alberto Aquilani - €20 millionLiverpool vs Chelsea - Premier LeagueAlberto Aquilani joined Liverpool from AS Roma for €20 million in 2009. The Italian looked promising before joining the club, and the Kop had high hopes from the central midfielder. However, injuries haunted him during his first season at Anfield.Aquilani played just 28 times under Rafa Benitez before spending a year out on loan at both Juventus and AC Milan. He never donned the red jersey again, as he joined Fiorentina on a permanent transfer in 2013, where he enjoyed two rather fruitful campaigns.Liverpool FC News@LivEchoLFCAlberto Aquilani: "What I did for Liverpool was forgotten."liverpoolecho.co.uk/sport/football…8:20 AM · Nov 10, 20204859Alberto Aquilani: "What I did for Liverpool was forgotten."liverpoolecho.co.uk/sport/football… https://t.co/VJHeDIOOuvWhile the transfer fee dished out for the Italian might not seem high now, it was a hefty fee in the 2000s. The midfielder failed to tie down a place in the Reds' lineup, so he deserves a spot on this list. Considering his cost, he is arguably the biggest midfield flop in the club's history.#4 Mario Balotelli - €20 millionLiverpool FC vs Besiktas JK - UEFA Europa League Round of 32Mario Balotelli is a classic example of how a poor attitude can affect a player's career, regardless of how talented they are. Balotelli, another Italian who flopped at Anfield, never looked like a team player. He was the definition of a panic buy.Brendan Rodgers was tasked with replacing Luis Suarez in 2014, and he believed Balotelli would fill the huge void left by the Uruguayan. The Italian international was talented, but he had significant issues regarding work ethic and mindset.GOAL@goal #OnThisDay in 2014Liverpool thought they had found their Luis Suarez replacement, spending £16m on Mario BalotelliHis Premier League stats at Liverpool: Games Goal1:51 AM · Aug 25, 20212486179📆 #OnThisDay in 2014Liverpool thought they had found their Luis Suarez replacement, spending £16m on Mario BalotelliHis Premier League stats at Liverpool:1️⃣6️⃣ Games1️⃣ Goal https://t.co/qwmcK4sxmjDuring his debut campaign, the former Liverpool number 45 scored just one goal in 16 Premier League games. Overall, he managed just four strikes in 28 games during his time with the Reds. After a year on loan with Milan, he joined Nice on a free transfer.