Although the winter transfer window only officially opens on Sunday, Liverpool have already started their own January spree.
The Reds pipped Manchester United and a host of other top European clubs to a deal for Cody Gakpo earlier this week, with the coveted PSV Eindhoven forward penning a five-and-a-half-year deal at Anfield. However, it remains to be seen if Jurgen Klopp will be able to supplement the capture of Gakpo with more new faces.
It was believed that Liverpool would hold off their search for a now midfielder until the summer but the Reds' stance could soften if the right deal presents itself this month. Here, Mirror Football rounds up all the latest transfer talk from in and around Merseyside...
Reds suffer Bellingham blow
Real Madrid are ready to step up their pursuit of Jude Bellingham this month - and are confident that they are in pole position to land the sought-after midfield maestro.
According to ESPN, Los Blancos were already aware that competition to clinch Bellingham's signature was likely to be fierce but the youngsters' stock is now at an all-time high in the wake of his impressive performances for England at the World Cup.
While Liverpool have identified Bellingham as a top priority, Real Madrid are set to 'step up' talks in January and hope that club president Florentino Perez' positive relationship with Borussia Dortmund CEO Hans-Joachim Watzke will also boost their chances of winning the race for Europe's most coveted teenager.
Mac Allister on standby list
Join the debate! Who would you like to see Liverpool target in January? Let us know here.
Liverpool could move for Brighton midfielder Alexis Mac Allister if they are unable to acquire their primary transfer targets.
Jude Bellingham and Enzo Fernandez have been heavily linked with moves to Anfield; and while the former is unlikely to move this month, it appears Fernandez could be prised away from Benfica in January - if suitors are willing to pay his £105million release clause.
According to Gazzetta dello Sport, the Reds are one of a whole host of clubs keeping an eye on Mac Allister, who impressed for Argentina at the World Cup.
Klopp outlines spending stance
Jurgen Klopp has hinted that Liverpool could open their chequebook again this month in a bid to solve their midfield woes.
The Reds have already shelled out £37m to bring Cody Gakpo to Anfield and were not expected to spend big in the winter transfer window.
However, in his latest press conference, Klopp refused to rule out spending more - although his comments didn't exactly suggest that Liverpool would be capable of meeting a major sell-out clause like that of rumoured target Enzo Fernandez.
The German said: "We've to collect money for a bit, then we can spend. That is how we work."
