Liverpool have failed to secures the services of highly rated Real Madrid youngster Mario Rodriguez after the attacking midfielder rejected an offer from the Premier League side.
The promising 16 year old is viewed as one of the brightest prospects in the Real Madrid academy and has now put pen to paper on a four year deal that will see him remain at the Bernebeu and eventually push for first team action.
Liverpool had attempted to lure the youngster away from Spain with Marca reporting that they were prepared to double the salary that he will now receive at Madrid.
Premier League clubs have often tried to poach young players when they turn 16 and are on the verge of signing their first professional contract. It is the way Arsenal landed Cesc Fabregas, while Manchester United profited by signing Gerard Pique also from Barcelona.
This season there have already been a number of young players make the move to England, with Liverpool signing Sergio Canas from Barcelona, while Josimar joined Chelsea and Arsenal signed Julio Pleguezuelo, both players deciding to leave the Camp Nou.
Liverpool are also believed to be close to signing Pedro Chirivella from Valencia but it seems they have missed out on Rodriguez who described himself as a "player with imagination and technical ability".
Rodriguez has been watched by numerous scouts from England and is currently part of the Spain Under-17 side.
While the Reds may have missed out on one exciting prospect they have managed to complete a deal for Bristol City's highly-rated teenager Herbie Kane.
The 14 year old was being chased by a host of Premier League sides after representing the Bristol City Under-18 side last season but made the decision to join Liverpool.
Sky Sports reports that he is considered one of the best young prospects in England and has already drawn comparisons to Liverpool captain Steven Gerrard for his ability in midfield.
The League One side will be due compensation for Kane's exit as they will for Jacob Maddox who also left to join Chelsea.