McMahon, a three-time league winner with the Reds, believes Rodgers has to deliver after another summer of heavy spending.
The Reds have splashed out over £80m after Christian Benteke became their seventh signing of the summer.
It follows on from a £116m splurge on nine new faces 12 months ago.
And former Reds star McMahon believes it is too much change.
He said: “It’s re-building again. He has not got many right over the last few years and he needs to get them right this time.
“He is under pressure and he is aware of that. It’s an expensive business if you are spending £100m every summer.
“Six, seven, eight new signings every summer does not bode well. It used to be just three or four.”
Rodgers was forced to answer delicate questions on Mario Balotelli as he faced the media at the team hotel on the outskirts of Kuala Lumpur yesterday ahead of their final pre-season game of their tour.
Balotelli, 24, has been left at home and is training at the club’s Melwood base back in Liverpool as he appears to be heading for the Anfield exit door.
When asked if the Italian striker will still be at the club next summer, Rodgers said: “I’m not sure, that will entirely be up to Mario.
“He is working hard to get fit and we will see when the season begins.”
But McMahon was much clearer in his belief of what should happen to the former AC Milan and Manchester City striker.
He said: “I would keep him clear of Anfield. He’s a bad influence.”
Balotelli was criticised for tweeting support for Raheem Sterling, who left Anfield last week in a £49m deal after a protracted saga that left a sour taste with some fans in Liverpool.
McMahon added: “There was no need for him to make comments on Raheem Sterling.
“He should look for a new club as soon as possible.”
Former midfielder McMahon, who also won two FA Cups during a glittering six-year spell at Anfield, was not impressed by Sterling’s actions to get a move to City.
Sterling, 20, pushed for a move away from Liverpool after rejecting a £100,000-a-week contract and his agent Aidy Ward went public to say there would be no way his client would stay at Anfield.
McMahon added: “It is outrageous. It is poor mismanagement from him, his agent and his family.
“If I was standing here as a Manchester United player I would say the same – he lacks respect.
“There is a way to do things. He will not be welcomed back, that’s for sure.
“Maybe he should not be able to play at Anfield.”
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