Liverpool and Arsenal are battling for the signature of PSV Eindhoven playmaker Balazs Dzsudzsak.
The Hungarian international has been earning rave reviews for his performances at the Phillips Stadium, and Liverpool boss Kenny Dalglish has reportedly highlighted the player as a potential addition in the transfer window.
Former boss Roy Hodgson reportedly had the player scouted in November, with Dzsudzsak scoring a brace in-front of the watching Liverpool contingent.
The former Fulham manager's exit does not appear to have ended the Reds interest, with the Anfield outfit reportedly considering a €12 million offer for the player.
Arsenal chief Arsene Wenger is also reportedly keen on the player, with the Gunners sending their own scouts to monitor the player recently.
The Emirates outfit are also chasing Saints starlet Alex Oxlade-Chamberlain, but that hasn't stopped Arsenal from going head-to-head with Liverpool in the race to sign this versatile 24-year-old, according to The People.
Liverpool have money to spend following the arrival of NESV as the new owners at the club, and chairman John W. Henry has promised transfer cash to spend immediately.
Arsenal are also thought to be in the market following the announcement of bumper profits at the club last term, although a defender is thought to be a priority due to the injury crisis in that position at the club.
An attacking midfielder who can also play in the wide positions, Dzsudzsak would provide either Barclays Premier League club with an additional attacking threat in terms of goalscoring and assists. He has 10 goals in 19 Dutch league games so far this season.
A foil for Fernando Torres is thought to be the priority at Liverpool, making them the favourites to secure the player's signature.
However, Arsenal have beaten the Anfield outfit to the punch in the past, and Wenger will be looking to do the same in the remaining two weeks of the window.