Germany's Shkodran Mustafi reacts after missing a chance to score
The Reds have swooped to land two defenders already this summer in Joel Matip and Ragnar Klavan, but after Sunday's 4-3 win over Arsenal showed up some remaining defensive deficiencies, manager Jurgen Klopp may move for another defender - especially with questions over the future of Mamadou Sakho.
Germany's Shkodran Mustafi and Italy's Simone Zaza in action
Now, Spanish radio station Cadena Ser report that Liverpool have been in talks with Valencia for days now, with defender Shkodran Mustafi the subject of their negotiations.
Mustafi, 23, has been a key player for Valencia since his 2014 move from Sampdoria, scoring six goals in 78 games for the Spanish giants - but now, the former Everton youngster could be set for a shock move back to Merseyside.
The report claims that Liverpool are prepared to offer up forgotten Spanish playmaker Luis Alberto - who spent last season on loan at Deportivo La Coruna having made just 12 first-team appearances for Liverpool - in order to get a deal done for German international Mustafi, but an agreement hasn't been reached yet.
Valencia allegedly value Mustafi at €30m (£26m), whilst Liverpool value Alberto at €6m (£5.2m), valuations which neither club are willing to accept right now, with Valencia suggesting Alberto isn't worth so much money given that he's out of contract in a year's time.
Liverpool's Luis Alberto celebrates goal
The two teams are believed to be working on an agreement, and the news will come as a major blow to Arsenal, as the report claims that Valencia director of football Jesus Garcia Pitarch met with Liverpool as well as the Gunners in order to strike a deal for Mustafi.
Mustafi has been Arsenal's top defensive target for some time now, with The Mirror reporting on Tuesday that the centre back was training on his own as he waits for Arsenal to agree his transfer - but instead, he could be heading to Anfield as Liverpool reportedly move in to hijack Arsene Wenger's pursuit of the player.
Would you like to see Liverpool sign Mustafi?