The Telegraph understands that Real Madrid midfielder Asier Illarramendi has emerged as a £15m target for Liverpool.
The 25 year old moved to the Bernabeu from Real Sociedad in the summer of 2013, and has started under a third of the league games under Carlo Ancelotti in that time.
He was part of the squad that won the Champions League just over twelve months ago, though he was an unused substitute in the final victory over Atletico Madrid in Benfica.
The Spanish U21 international scored three goals in his debut campaign for Real, but failed to hit the net at all last season, and with a number of big name internationals ahead of him in the pecking order could be set for a move overseas.
Liverpool boss Brendan Rodgers has already been busy in the transfer market as he looks to improve on a disappointing 2014/15 campaign, with deals for James Milner and Danny Ings already secured.