Liverpool's attempt to sign Dnipro winger Yevhen Konoplyanka was scuppered late on transfer deadline day as the player's club pulled the plug on the deal, according to Mirror Sport.
The Reds were hoping to lure the Ukranian to Anfield after primary transfer target Mohammed Salah opted to join Chelsea.
It is understood that there were intense negotiations between the two clubs about signing Konoplyanka, but Dnipro's owner refused to deal business at the last second.
A £16 million deal is reported to have been on the table, but for the next six months at least Konoplyanka will remain in his native Ukraine.
Liverpool manager Brendan Rogers was disappointed that an agreement wasn't reached for the player, but he insists he still has the squad to finish in the top four this season.
He said: "If you look at the position we are in with 15 games to go, we've shown consistently we have the squad to compete.
"We have a lot of young players who are growing and improving all the time, and will benefit from the experience, so it is really exciting for us - and we are still on a high after winning the derby.
"It is difficult to bring in certain players in this window that are going to help us immediately. But it certainly hasn't been because of a lack of work by the club - there are people who have worked tirelessly to identify the right types of players and bring them in."
He added: "Of course as a manager you would have liked to have strengthened, but I am very optimistic with the group of players I have here."
The Reds will hope to cement their position in the top four with a win away at West Bromwich Albion on Sunday.