Liverpool already have an agreement in place with Monaco midfielder Thomas Lemar, according to reports.
The 22-year-old was wanted by
Arsenal and Liverpool last summer but the Ligue 1 champions refused all offers.
Both Premier League clubs have reignited their interest this month but Monaco have maintained that a bid in excess of €100 million (£88m) is needed to sign the midfielder.
According to Yahoo Sport, Liverpool have reached an agreement with Lemar but the club are refusing to meet Monaco’s valuation.
Lemar’s price tag could also rise if he impresses for France at the World Cup this summer.
Barcelona have been linked with a move for Lemar, although they secured a £142m deal for Philippe Coutinho this month and are reportedly making a striker their priority signing for the summer window.
Lemar’s campaign has been disrupted by a shoulder injury and he has registered only three goals and five assists in 23 appearances for Monaco this term.
Speaking earlier this month, Monaco boss Leonardo Jardim insisted that Lemar would be staying with the Ligue 1 champions until the end of the season.
‘Monaco are not in the habit of making big sales in the winter. It’s our strategy,’ he said.
‘The players understand and they know how it goes here.’