Borussia Dortmund are expected to make an official offer for PSV Eindhoven striker Donyell Malen in the next few days, according to reports in the Dutch media.
Liverpool are still said to be in the frame for the former Arsenal academy player but it is now believed that Dortmund have the upper hand with the player interested in moving to the Bundesliga club.
It was revealed last week that the Reds did make an official enquiry for Malen, but they have not stepped up their interest in the Netherlands international, despite the competition from Dortmund.
PSV are reportedly holding out for around €30m (£26m) to sell the 22-year-old and that may be why Jurgen Klopp’s side have not made a formal bid so far.
The Merseyside club are in the process of raising money through player sales so, if they do secure the funding they need, it is still a possibility that they could enter the running for Malen at the eleventh hour.