With the fall-out over the club's failure to snap up much needed fire power continuing, Liverpool's principal owner has written an open letter to fans warning that "risky spending" isn't an option.
But the Reds desperately need to bolster their ranks, after making the mistake of loaning out striker Andy Carroll to West Ham without securing any replacement.
Despite much speculation surrounding names like Yossi Benayoun, Clint Dempsey and Daniel Sturridge, the transfer window closed on Friday night without Liverpool making any new signings.
"We all know we needed reinforcements and the players needed help, but the window is shut - we can't do anything about it now," Rodgers said.
"We've got what we've got. A lot of young players are going to get an opportunity."
I'm not here to cry. I can't do anything about it. The reality is we've got the group we've got.
And having only loaned Carroll out, rather than recouping his club record £35m fee, funds could be an issue - even though owners Fenway Sports Group insist the transfer policy wasn't cost-cutting.
"We will invest to succeed. But we will not mortgage the future with risky spending," Fenway Sports Group's John Henry said.
"The transfer window may not have been perfect, but we are not just looking at the next 16 weeks until we can buy again - we are looking at the next 16 years and beyond."
Rodgers has basically said he can't afford to be picky now and will consider moving for a free agent like Owen or Didier Drogba.
"Any player I believe can improve the squad, I will look at - I can't say no, I always have to look and see where we can improve the group," the manager said.
But Liverpool could face tough competition.
Real Madrid, Manchester City and Tottenham Hotspur are all understood to be in the hunt for Drogba, while Stoke are among the clubs chasing Owen since his release by Manchester United.
As well as expressing disappointment at how things had panned out on the transfer front, Henry also used his open letter to back Rodgers - the man who guided Swansea to the Premiership and kept them there in their debut top flight season, before taking over the reins from King Kenny Dalglish.
"In Brendan Rodgers, we have a talented young manager and we have valued highly his judgement about the make-up of the squad," he said.
"This is a work in progress. It will take time for Brendan to instil his philosophy into the squad and build exactly what he needs for the long term."
Henry further hailed youngsters Joe Allen, Nuri Sahin, Fabio Borini, Samed Yesil and Oussama Assaidi as proof the summer window "could hardly be deemed a failure".
But whether it's enough to appease the anxious Kop will remain to be seen.
Our ambitions do not lie in cementing a mid-table place with expensive, short-term quick fixes.
John Henry, Fenway Sports Group
Rodgers has said that he will now use the international break in Liverpool's schedule to reflect on how best to move forward
"What has happened has happened, we'll reflect on it as a club and hopefully come January and the next window, we can transition the group that allows us to compete," he said.
And following the weekend defeat at the hands of Arsenal, the Carnlough man insisted his side will improve as the season progresses.
"It was always going to be a difficult start," he said.
"I have an inherent belief in this way of working, and I've had success with it. Over time here, that will be the same. These are the hard yards that you've got to put in early on and take the flak for."
While it is still early days, Liverpool are currently languishing in a dismal 18th place in the Premiership table - with two weeks' grace due to international action before facing Sunderland on 15 September.