Liverpool forward Luis Diaz will “enter renewal talks” with the Reds “in the coming weeks”, according to journalist Pipe Sierra.

The Colombian international is closing in on the final two years of his contract at Anfield and the player is keen to be rewarded with a pay rise.

Diaz is currently earning just £55,000 a week, making him one of the lowest earners in the first-team squad and, after scoring 16 goals in all competitions this season, there is a belief that he warrants a higher salary.

Sierra says the meetings with the club will determine whether the 28-year-old stays or is sold this summer.

Where could Diaz go if he leaves Merseyside?

Other Premier League teams, including Arsenal and Chelsea, have been loosely linked with the player in recent months but the general feeling is that the winger would move abroad.

Barcelona have a longstanding interest in Diaz, although they are not currently in a position financially to sign him. Other teams are likely to emerge as potential suitors if it becomes clear that Liverpool are willing to offload him.

Who could Liverpool sign as his replacement?

Several left-wingers have been mentioned as possible targets in recent weeks. Reds scouts have been keeping close tabs on Borussia Dortmund’s Jamie Gittens, who could be sold for €60m (£51m) at the end of the season. Bournemouth’s Antoine Semenyo is another player who is said to be on the club’s radar.

An approach for RB Leipzig’s Xavi Simons also can’t be ruled out. The Netherlands international wouldn’t necessarily be a direct replacement for Diaz but he can be deployed right across the front three. He is expected to be available this summer and members of Liverpool’s recruitment department are reportedly big fans of his.

Click here to see Liverpool’s first team squad for the 2024/25 season