The agents of Liverpool target Gaston Ramirez have reportedly begun negotiations with Bologna regarding a new contract for their client.
Ramirez has placed himself firmly in the shop window after a number of fine displays in Serie A for his currently employers since joining from Penarol a year ago.
He has since been linked with some of the biggest clubs in Serie A, including Juventus, AC Mlian and Palermo.
However, despite reported interest from Liverpool, Football Italia reports that Bologna will offer the 20-year-old winger improved terms in a contract with a buyout clause of €14 million.
The Serie A outfit had previously fuelled speculation that Anfield could be a potential destination for Ramirez after club vice-president Maurizio Setti said there was a 'real chance' of the Uruguayan joining Liverpool.
However, it is unclear if Liverpool made a formal approach to sign Ramirez during the summer as Kenny Dalglish significantly invested in his squad.
Should Ramirez eventually sign for the Reds, then he would join compatriots Luis Suarez and Sebastian Coates on Merseyside.