Liverpool's opening-weekend draw with Chelsea suggested both teams might be in need of reinforcements in defensive midfield, but so far only the London side have splashed the cash.
Mauricio Pochettino's side broke the Premier League transfer record to sign Moises Caicedo from Brighton, with Romeo Lavia also set to choose West London over Merseyside. That leaves Jurgen Klopp's side still on the lookout following their 1-1 draw at Stamford Bridge on Sunday.
Midfield is, unsurprisingly, the focus of plenty of the transfer talk around Anfield this week. Here are the latest lines, with just over a fortnight of the transfer window remaining.
Liverpool could return to the table for Real Madrid midfielder Fede Valverde, according to Sport (via Football Espana). The Reds had also been linked with the Uruguay international's club team-mate Aurelien Tchouameni, only for the Spanish giants to be in no mood to sell.
Valverde wouldn't come cheap, if he's on the market at all. A price-point north of £50m has been suggested for the 25-year-old, who has been in the Spanish capital since 2017.
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The central midfielder, who has also played further forward for Los Blancos, started the 2022 Champions League final as Madrid beat Liverpool 1-0. After the summer arrival of Jude Bellingham, there have been rumblings Valverde might be allowed to leave, but the midfielder has not indicated any concrete desire to move on.
Brighton have been exploring a move for Lille midfielder Carlos Baleba, but Liverpool have also been monitoring the Cameroonian youngster. That's according to multiple outlets including The Guardian, who suggest the Reds might be tempted to swoop while their rivals negotiate over a deal.
Roberto De Zerbi's Seagulls have been hopeful of securing a cut-price deal for the teenager. However, according to L'Equipe (via Get French Football News), a €20m bid has been turned down with Lille after around €30m.
Brighton are flush with cash after the sale of Caicedo to Chelsea, while Liverpool have money to spend after missing out on the Ecuador star. It remains to be seen whether the Reds rival De Zerbi's side with a bid for Baleba, who has attracted rave reviews since making his senior debut in August 2022.
After missing out on a number of targets, Liverpool have not given up on Premier League duo Joao Palhinha and Cheick Doucoure. The Mail claim the stars, both of whom enjoyed fruitful debut seasons in the Premier League, remain on the shortlist of Klopp's side.
Liverpool's concern when it comes to Fulham star Palhinha is the price tag. The Cottagers are thought to want around £60m for the Portugal international, and have already rebuffed interest from West Ham.
Palace star Doucoure would also command a hefty fee, with £70m mentioned earlier in the window. The pair are reported to be part of a six-man list, which also contains Nice midfielder Khephren Thuram.