Liverpool already have an agreement in place with Monaco midfielder Thomas Lemar, according to reports.
The 22-year-old was wanted by Arsenal and Liverpool last summer but the Ligue 1 champions refused all offers.
Both Premier League clubs have reignited their interest this month but Monaco have maintained that a bid in excess of €100 million (£88m) is needed to sign the midfielder.
According to Yahoo Sport, Liverpool have reached an agreement with Lemar but the club are refusing to meet Monaco’s valuation.
Lemar’s price tag could also rise if he impresses for France at the World Cup this summer.