Victor Valdes
Valdes is currently unattached after seeing his move to Monaco collapse. Getty

Liverpool are being urged to end their transfer activity in 2014 with the signing of free agent Victor Valdes.

The 32-year-old's move to Monaco from Barcelona fell through in July after the Spanish international failed a medical ahead of joining the Ligue 1 side, leaving him without a club for the new campaign.

In the twilight of the summer transfer window Liverpool were linked with a move for Valdes to provide support to No.1 Simon Mignolet, with Australian Brad Jones the only remaining first team option.

Though the window closed at the end of September, Liverpool are free to conclude a deal for Valdes with the ex-Barcelona stopper unattached and former player Mark Lawrenson says the deal would be the "finishing touch" to the club's recent transfer business.

"The Reds are in need of serious competition for current first choice goalkeeper Simon Mignolet," he told the Liverpool Echo. "It's the one position where they remain short, particularly with the Champions League just around the corner.

"Interest in Valdes, then, makes perfect sense. Liverpool will feel as though the benefits will outweigh the risks, especially as there is no transfer fee involved with Valdes being a free agent having been released by Barcelona.

"Mignolet will surely have also taken note. It means the Belgian will now be under real pressure for his jersey for the first time in his Anfield career. I can't imagine Valdes would be coming to Liverpool to sit on the bench once he is fully fit.

"Should the move happen, Brendan Rodgers will no doubt say to Mignolet 'look, I'm bringing a keeper in, but you are in possession of the jersey at the moment – don't give me a reason for that to change'.

"Liverpool have done very well in the transfer window. A deal for Valdes would apply the finishing touch."

Rodgers has made nine additions this summer, with the likes of Adam Lallana, Lazar Markovic and Rickie Lambert signed to cover the loss of Luis Suarez.

Following a campaign during which the club conceded 50 league goals, the Merseyside club have also improved their defensive options with Alberto Moreno and Dejan Lovren among the high-profile additions.