Liverpool are facing a serious battle with Southampton for the signature of Inter Milan playmaker Philippe Coutinho, while scouts have been sent out to Australia to take a look at wing wizard Marco Rojas.
The Reds were thought to be closing in on a move for the 20-year-old Coutinho, with a set of Liverpool executives, including managing director Ian Ayre, flying out to Milan to try and finalize a deal with Inter, according to goal.com.
Inter are holding out for a larger fee than what Liverpool are offering which is around £8 million ($12.5 million).
Liverpool, though, were still confident of thrashing out a deal with Inter with a fee of around £9 million ($14 million) expected to be agreed upon.
However, a spanner has been thrown in the works, with Southampton outbidding Liverpool for Coutinho, with Inter reportedly accepting Saints' offer of around £10 million ($16 million).
Southampton's new manager Mauricio Pochettino is well aware of Coutinho's talents having had him on loan at Espanyol last season. That familiarity might work in their favor, as Southampton look to steal the march on Liverpool for the second time this season.
The Saints already beat Liverpool to Vegard Forren, who snubbed a trial from the Reds to sign for Southampton.
Brendan Rodgers is keen to strengthen his attack further, and is desperate for some reinforcements. However, it remains to be seen whether Liverpool will match Southampton's offer, and then convince Coutinho to join them instead of the Saints.
Meanwhile, Liverpool have sent scouts to Australia to have a look at up and coming New Zealand winger Rojas, who has impressed all with his displays for Melbourne Victory in the A-League this season, according to the Daily Express.
Several big clubs around Europe have been alerted by the 21-year-old's exploits, with Italian champions Juventus also reportedly keeping tabs.
Liverpool, though, might have to wait until the end of the season to make a move for Rojas, who has scored 10 goals in 15 games this season, with Melbourne unwilling to let go of the winger in the January transfer window, even though his contract expires in the summer.
"I'm in contact with his dad very regularly and at this stage we're confident he'll stay with us until the end of the season," Melbourne boss Ange Postecoglou.
"We've been in constant discussion with Marco and from our point of view we're very happy with his form this season and how he's developing and his development is a priority.
"At this stage we're comfortable with how he's going and where things are at."