The Colombia international has joined the club on a five-year deal after the Reds paid Porto a €45 million transfer fee.
Campbell believes that a forward could be departing Liverpool in the near future, which is why the club signed Diaz in January.
The pundit told Football Insider the following: “Maybe they’re preparing for one of them to leave.
"There is some serious contract dealings to do this year. The contract dealings will likely be resolved one way or another by the end of the season.
“The club might be open to one leaving now that Diaz has arrived.
"[Diogo] Jota has proven himself to be a class act. He has shown that he can be a really good replacement for one of them and when you add Diaz to that mix there is real competition for places.
“When you have a team like Liverpool’s, you do not let any players go until they’re done. They have depth right now. If they let a [Sadio] Mane or a [Roberto] Firmino go in the summer they’d be taking a chance.”
Anfield Watch Verdict
Only time will tell if one of Liverpool's key forwards are to depart the club in the near future. Mohamed Salah, Mane and Firmino are all aged between 29-30.
Therefore, we are glad that the Reds have considered the future by signing a reasonably young winger (25) in Diaz. In saying that, we do hope that none of the aforementioned players leave Anfield anytime soon.
Salah, Mane and Firmino are not done as professional footballers. They are all still performing for Liverpool's first-team.
Hopefully Diaz has been brought in to challenge (not replace) the forwards at the club.
But, only time will tell what the future holds for the likes of Salah, Mane and Firmino.