Liverpool want to replace Barcelona-bound Philippe Coutinho with £90million-rated Thomas Lemar.
The Reds have reportedly made contact with Monaco over Lemar, who they went toe-to-toe with Arsenal for last summer.
The France winger is also said to be keen on a move to Anfield.
With the latest development, Liverpool have admitted defeat in their bid to persuade Coutinho to stay at the club. The Brazilian playmaker has already made it clear he will not sign a new contract and is intent on joining the LaLiga giants.
There is now an understanding at the Nou Camp, that they could get their man if they conduct negotiations seriously and sensitively.
Liverpool have not set a price for Coutinho, but it is understood any fee would have to exceed a £120m base price, with clauses that could bring extra cash.
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