Liverpool face competition from Arsenal in the race to sign Peruvian international Juan Manuel Vargas.
The versatile Fiorentina midfielder was heavily linked with a move to the Barclays Premier League in the closing stages of the summer transfer window, and is again appearing on the English radar with Gunners chief Arsene Wenger keen on the 27-year-old.
Reports in the Daily Mirror claim Arsenal, currently leading the charge from outside Italy, would need to pay in the region of £10 million to secure Vargas' signature ahead of Juventus.
Vargas can play left back, left wing and central midfielder, and would offer the Arsenal boss a number of options should he pursue a move in the New Year.
The Cesc Fabregas and Samir Nasri transfer sagas are said to have impacted the Frenchman over moving for 'El Loco' back in August, but with nothing appearing to stop Arsenal over a move, the north London side could look to brink the player to the Emirates at the next available opportunity.
He would join Mikel Arteta, Yossi Benayoun, Per Mertesacker, Park Chu-Young and Andre Santos at Arsenal, all of whom signed in the closing stages of the transfer window.
Liverpool have also been courting the player in the past, with Kenny Dalglish thought to be considering a bid to bring the player to Anfield back in July.
Instead, the Reds opted to bring Stewart Downing to the club, and also strengthen their midfield with the signings of Charlie Adam and Jordan Henderson to compete alongside Liverpool skipper Steven Gerrard and Brazilian midfielder Lucas Leiva.
However, left-back has traditionally caused Liverpool problems, and whilst the Merseysiders brought Jose Enrique to the club in the window, Vargas could compete for a place in that position along with a handful of others.