Alex Oxlade-Chamberlain has rejected Chelsea in hopes of joining Liverpool.
A £35 million approach from the reigning Premier League champions was accepted by Arsenal but the midfielder is holding out for a move to Anfield.
Oxlade-Chamberlain is under consideration by the Reds along with Thomas Lemar as they enter into the final 36 hours of the transfer window.
Liverpool could turn to the England international as an alternative despite continuing discussions with Monaco over a potential £75m switch for Lemar.
Chelsea’s attempts to land Oxlade-Chamberlain failed amid claims that he would be forced to play in a right wing-back role under Antonio Conte.
The 24-year-old will currently be available on a free transfer next summer if he fails to secure a move away from the Emirates Stadium before August 31.
Arsenal are expected to command a fee in the region of £40m before allowing Oxlade-Chamberlain to leave the north London club.
Jurgen Klopp is eyeing a strong finish in the summer window with Liverpool still hopeful of securing the signature of Virgil van Dijk from Southampton.
Interest in the defender was publicly shelved earlier this summer amid accusations of ‘tapping up’ but Anfield officials could make a fresh approach.
Van Dijk has not played for Southampton since returning from a season-ending injury as he continues to eye a prospective move to Merseyside.