Liverpool are in the market for a replacement for Luis Suarez with The Reds making it a priority to sign Tottenham target Roberto Soldado this summer.
Soldado became a top target for Spurs after they missed out on acquiring David Villa in the current transfer window, and this week director of football Franco Baldini flew to Spain for talks with Valencia regarding the sale of the forward.
But Baldini returned empty handed after failing to meet the side's asking price for the Spain international and the Telegraph claims that Liverpool are now ready to swoop for Soldado as they come to terms with the fact that they will lose Suarez this summer.
The Uruguay international has claimed that he wants a move away from England, though Liverpool have rejected two bids from Arsenal for his services.
Brendan Rodgers insisted this week that Suarez wouldn't be sold unless a bid came in which was impossible to refuse and the manager has compared his star striker to the likes of Edinson Cavani, who recently made a switch from Napoli to Paris Saint Germain for £55m.
But the paper is reporting that Liverpool are braced for a potential suitor to meet such an asking price, particularly with Real Madrid showing interest, and have pinpointed Soldado as a player who can bring in goals.
Soldado scored 31 goals for club and country last season and his contributions to the Spain national side as well as Valencia mean he is likely to make up part of Vincente del Bosque's squad for next year's World Cup.
Both Liverpool and Tottenham believe they have realistic ambitions of qualifying for the Champions League next season and should the Reds accept they will lose Suarez this summer they will have substancial funds in their search for a replacement.