Liverpool are out of the running to sign Jude Bellingham this summer.
Multiple sources including The Telegraph report that the Reds are unwilling to meet the expected price tag for the Borussia Dortmund midfielder, who is likely to cost more than £100million.
Instead, Anfield chiefs plan to fund a major overhaul of Jurgen Klopp’s squad.
Striker Roberto Firmino has already confirmed he will leave the Merseyside club at the end of the season, with James Milner, Alex Oxlade-Chamberlain and Naby Keita expected to follow suit when their contracts expire in June.
Klopp will be handed a transfer kitty to recruit a number of players as he seeks to improve on a disappointing season for the Premier League giants.
Liverpool sit eighth in the table with nine games to play, 12 points off the Champions League places.
Chelsea midfielder Mason Mount is now regarded as the priority target this summer, according to the Liverpool Echo.
That leaves Manchester City and Real Madrid as the remaining contenders to secure England teen sensation Bellingham’s signature.
In other news
Catalan media claim Chelsea have held talks with representatives of Barcelona midfielder Gavi.
Sky Germany say Napoli forward Victor Osimhen wants a summer move to Bayern Munich.
Transfer guru Florian Plettenberg understands RB Leipzig will select Folarin Balogun as their replacement for Christopher Nkunku, who is expected to join Chelsea.