Liverpool are hoping to beat Arsenal to the signature of Alexis Sanchez as they plan to make an £18 million bid for the Barcelona winger after the World Cup this summer.
The Daily Star on Sunday reports how the Chile international is ready to leave Camp Nou in search of more regular first-team football next season.
Reds boss Brendan Rodgers has identified the 25-year-old as a player that can help strengthen his squad at Anfield, as the Merseyside club prepare for a return to the Champions League in 2014/15.
However, Liverpool could face competition for Sanchez's services, with Arsene Wenger also mooted as an admirer of the South American talent.
After winning the FA Cup with a dramatic 3-2 extra-time victory at Wembley on Saturday, the Gunners boss is ready to pen a two-year contract extension at the Emirates Stadium, and will begin work on improving his team ahead of the new campaign.
Sanchez cost Barcelona £25 million when they signed him from Udinese in 2011, but with just two years to run on his £90,000-a-week contract in Spain, he could leave the club in a cut-price deal.
His arrival at Liverpool could spell the end for Fabio Borini's career on Merseyside. The Italian spent last season on loan at Sunderland, and manager Gus Poyet is keen to bring him back to the Stadium of Light.
Meanwhile, Arsenal are well stocked in the attacking midfield department, but Sanchez's ability to also play through the middle as a central striker means that he could provide back-up to Olivier Giroud in north London.