Chelsea are reportedly ready to offload Yossi Benayoun, with former club Liverpool emerging as a potential destination.
According to The Telegraph, the Reds are keen on Benayoun and, should the Israeli defender move to Merseyside, Raul Meireles could move in the opposite direction.
Since the arrival of Juan Mata at Stamford Bridge, Benayoun is said to have been deemed surplus to requirements bu Chelsea boss Andre Villas-Boas.
The 31-year-old only joined Chelsea last summer, having run down his contract with Liverpool, but it would now appear a return to Anfield could be on the cards.
Meireles, meanwhile, enjoyed an impressive first season with Liverpool but, after the acquisitions of Charlie Adam, Jordan Henderson and Stewart Downing, it is claimed the Reds are prepared to sell.
However, the 27-year-old is currently sidelined with a collarbone injury, which could hamper any potential move away from Liverpool before the transfer deadline.