Liverpool have withdrawn from talks to sign RB Leipzig striker Timo Werner.

According to the Mirror, the Premier League leaders have refused to meet the German’s £50 million release clause with Leipzig insisting they will not negotiate a deal below that figure.

Jurgen Klopp has spoken to his compatriot on numerous occasions in recent months to express his desire to bring him to Anfield.

However, the manager has acknowledged the transfer market has been turned upside down and transfer valuations must now be reconsidered.

The coronavirus pandemic is likely to cost the Anfield club at least £100 million in the next 12 months with Europe’s top clubs in a similar position.

And despite their good relationship with Leipzig, Liverpool now value Werner at significantly less than £30 million.

So, what next for Werner - who has scored 24 goals in 28 Bundesliga matches this season?

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Well, he’s reportedly very keen on a move to Liverpool and is willing to turn down advances from other clubs.

But with two years remaining on his current Leipzig contract, there’s now an opportunity he could accept offers from the likes of Inter Milan and Barcelona should they meet his release clause.

In just 12 months time, Werner’s release clause will drop to around £35 million.

At that stage, he will have just one year left on his deal and Leipzig will surely have to listen to heavy reduced offers if they want to recoup any money for him.

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However, if comments from Leipzig CEO Oliver Mintzlaff are anything to go by, the club will be playing hard ball.

“It won’t get any cheaper. We will not sell a player below value if he is under contract for more than a year," he said.

"In general, we always ask the question: can we replace a player if we sell him for less than his market value?"

It looks as though, for the second consecutive year, Liverpool will be doing very little business in the summer.