Liverpool are willing to offer Barcelona winger Pedro £90,000-per-week in order to lure him to Anfield, according to the Daily Mail.
The Merseyside club see him as a potential replacement for Raheem Sterling who is yet to put pen to paper on a new deal, and could swoop for him when the summer window opens.
Pedro recently admitted he would be assessing his options at the end of the current campaign because of his lack of game-time at the Nou Camp.
The Mail say that Liverpool will offer him a bumper contract in order to lure him to the Premier League - but the move hinges on the future of Sterling, who is attracting a host of suitors across Europe.
The England international rejected a contract offer worth £100,000-per-week amidst speculation that Manchester City, Manchester United and Chelsea are all interested in securing his signature. Sterling currently has two years left on a contract worth £35,000 a week.
"It's not about the money at all," he told the BBC last week. "It's never been about money. I talk about winning trophies throughout my career. That's all I talk about. I don't talk about how many cars I'm going to drive, how many houses I've got. I just purely want to be the best I can be."
Although both Sterling and Liverpool have insisted a summer transfer is not on the cards, according to the Daily Mail the Reds will accept an offer of £50 million for their star player.
Pedro has started just 12 games in La Liga this season, managing five goals in the process, while he's started four Champions League fixtures too.
The 27-year-old is likely to cost a fraction of that sum, and would become Liverpool's main target if they lose Sterling. Bayern Munich are said to be interested in the winger too, but he could be put off a switch to link up with Pep Guardiola once more because his game-time is likely to limited once more.
Inter Milan are suggested as another suitor and would be able to offer him time on the pitch, however the Italian club are unlikely to be able to get near Liverpool's contract offer.
Liverpool have been linked with a move for Pedro for what feels like an eternity. It's true that he is underrated at Barcelona and he would be a good fit for Liverpool and the Premier League, but he is not an adequate replacement for Sterling.
In fairness, it is hard to think of a player who is. Sterling has the trickery of a winger and intelligence of a number 10, and that combination of qualities doesn't come cheap. Brendan Rodgers opted to replace quality with quantity after Suarez, and he may do the same if Sterling does leave.
However Liverpool fans will be hopeful it doesn't come to that just.