Liverpool are scouting highly-rated French under-21 midfielder Remy Cabella, according to soccer news site Caughtoffside.com.
Cabella is apparently seen as the man to provide the Reds with an extra creative spark.
The 21-year old has been impressive as part of a Montpellier team that has shocked French football this season and currently sit top of Ligue 1.
Although Cabella has only made eight starts during the campaign he has already amassed three goals.
If Liverpool go through with the deal, though, it would be hoped that Cabella will provide a midfield link to striker Luis Suarez.
However, reports suggest that French football's new big spenders Paris St. Germain will battle Liverpool for Cabella's signature.
Though, Liverpool have not been shy in spending since Fenway Sports Group took over at Anfield, there are now few teams in the world who can compete with the endless barrels of cash now on hand in the French capital. The French side were taken over by mega-rich Qatari owners last year.
Liverpool will be hoping that they can secure Champions League football for next season in order to tempt players to the club in the summer.
In the past few days Liverpool have been linked with several big-name signings, including midfielders Javi Martinez and Seydou Keita, as well as Belgian star Eden Hazard.
Keita has admitted that he was "flattered" by Liverpool's interest, according to ESPN.
Liverpool are at home to Arsenal in the Barclays Premier League's early kickoff on Saturday. The Reds have injury concerns over their captain Steven Gerrard, who was taken off as an injury precaution after just 32 minutes of England's friendly international with Holland on Wednesday night.
Gerrard's appearance at Wembley came just three days after he played 120 minutes in Liverpool's Carling Cup triumph over Cardiff, which has led some people to suggest that Gerrard should not have featured for England.
Liverpool boss Kenny Dalglish refused to blame England caretaker manager Stuart Pearce for selecting his captain, though.
"Until we know exactly what has happened it is difficult for us to presume anything," Dalglish said, according to ESPN. "I have fantastic respect for 'Pearcey'--he played for us [when Dalglish was manager at Newcastle].
"He is a really straight, honest guy so I don't think he would do anything harmful to the football club."