Alexis Sanchez
Alexis SanchezReuters

Liverpool legend Phil Thompson has revealed the Reds have already agreed terms in signing Manchester United and Arsenal summer target Alexis Sanchez.

The Barcelona star has long been linked with a move to the Premier League with the Red Devils and the north London side, along with the Merseyside club, keen on securing his services.

The Chilean international's future at Camp Nou is uncertain as the Catalan side are looking to offload the 25-year-old to raise funds to bring in new faces to the club in the summer transfer window.

Barcelona are interested in landing Liverpool star Luis Suarez. The Express reported Brendan Rodgers will allow the Uruguayan international leave Anfield in a player-plus-cash deal, which would see the Reds land Sanchez.

Thompson, former Liverpool centre-back, has not given any insight into the reported swap deal. However, the 60-year-old says that Sanchez deal has already been sealed and he will be a Liverpool player next season.

"Just yesterday I heard things from people, newspaper guys who are very close to the ground at Liverpool, saying that the Sanchez deal was actually done," the Metro quoted Thompson as saying.

Sanchez is currently on international duty with Chile in the World Cup as they take on Brazil in the first Round of 16 clash of the summer tournament on Saturday.

Any official confirmation of Sanchez' potential Liverpool move is likely to come once Chile's World Cup campaign gets over.

Meanwhile, another Liverpool legend, Ian Callaghan, has said England captain Steven Gerrard is the best ever player in the Reds' history.

"Records are there to be broken and if anybody is going to beat the record, I certainly hope it's going to be Stevie - a local lad," Callaghan told Liverpool's official website.

"I regard Stevie as the best player that has ever played for Liverpool, I really do. To have over 100 caps, he is an incredible player. He had a great season and Liverpool had a great season."

"From a Liverpool point of view, Steven could walk into any Liverpool team, that's how highly I rate him. And to win over 100 caps for your country is fantastic. It shows you the measure of him as a man and a player," he added.