Yes. Probably the favourites counting out the possibility that we might get Mourinho. Klopp is just that good, and no European football means they'll be able to grow more organically rather than steroiding up their squad during this transfer window in the hope that they gel immediately and are suddenly able to combine the domestic and European obligations that they were so spectacularly unable to this season.
People are saying that no Champions League is a monumental blow to Klopp's transfer plans, whereas I disagree wholeheartedly. Klopp has never and will never try to sign the elite big names of the game who demand the immediate and grandest success, he'll go for astutely scouted young players from the Bundesliga who will respect him and buy into his philosophy unconditionally, they were so close to Champions League qualification that he'll be able to sell the idea that this season of not having it is just a one-off. They'll know him and believe him.