Here is my take on this summer's transfer dealings, based on nothing but my opinion and conjecture:
Sometime in the winter I wrote that it's a coin toss whether Suarez will stay or go this summer. Despite the turbulence of the last few weeks, I think nothing has changed in that regard. It's still essentially 50/50, and no matter how many bridges Luis burns in trying to force his move, if Real get Bale and Arsenal get priced out (both not unlikely), he will probably have no other option except to turn around and "pledge" his future to LFC for at least one more season. And once that happens, I think he will be as committed on the pitch and the training ground as he always was. I don't expect him to sulk Tevez-style and if anything, he will clean up his behavior towards opponents. But I digress. Obviously we are dealing with 2 starkly different scenarios here:
1. Suarez stays. In that case, we have roughly £20M left to fill 3 positions that Rodgers clearly regards as priority: 1st choice CB, backup LB, and a 1st choice attacker (most likely CAM/goal-scoring CM). Also, Rodgers will surely want to spend a few more million on some promising youngsters, like he did last summer with Yesil, cash crunch or not. Backup LB is the cheapest and easiest to fill position and I'm 100% sure we will sign a LB this summer. I think CAM is a slightly bigger priority for Rodgers and if he can't afford both, say, Eriksen and Papa, he will choose the midfielder and hope that Toure and Skrtel can hold the fort until next summer alongside Agger and Wisdom.
If somebody were to offer a substantial amount for Skrtel or Downing, that would change the equation but so far there are no offers. Rodgers can also try to raise funds by selling one of the players he actually kind of likes and would normally like to keep: maybe Borini, Henderson or GlenJo. But that also depends on other clubs being interested, and for now Rodgers can only wait.
If Suarez stays, my prediction is we will only sign an attacking MF (most likely Eriksen), an inexpensive LB and a couple of youngsters. Skrtel will stay but Downing will be sold for next to nothing in the last few days of the season to cut down on the wages. If the defense still struggles in the first months of the season, Rodgers will open the pocketbook for a defensive reinforcement in January.
2. Suarez leaves. We will have 60+ million to spend in this case. I think most of the "exciting" links of this summer belong in this scenario, all your muriels and konoplyakas. We cannot buy any 60 or 40 million players (none are on the market anyway), so the Suarez money will be spread out throughout various positions in the squad with probably no purchase over 20M. Rodgers is probably trying to agree or already has agreed the selling price for some of these targets, so that he avoids starting negotiations when everyone can see 60M burning in his pocket. If Suarez is sold, I think there will be a string of deals on our side announced within days of the sale - definitely a CAM, a CB and a striker and probably a couple more "luxury" purchases (probably at least one winger, maybe a defensive midfielder, maybe some more young attackers like Luis Alberto). I think this scenario will feel more exciting for some fans during the summer, but our results and table position would in the end be worse than in the scenario 1.
Like I said, this is purely my personal conjecture based on my reading of Rodgers' priorities and you're welcome to disagree or to point a finger when real-life events make a joke of my predictions.