The Reds have engaged in fresh discussions with the 20-year-old Belgian's representatives, spurred by the potential departure of Luis Diaz to Bayern Munich. This move comes as interest in Real Madrid's Rodrygo cools due to his hefty price tag.

The Premier League champions have already been active in the transfer market, securing five new signings, including Eintracht Frankfurt's Hugo Ekitike, for a combined total of 190 million pounds. According to the Liverpool Echo, manager Arne Slot aims to add at least two more players, a wide attacker and a central defender, before the transfer window closes on September 1.

With Bayern Munich preparing a second bid for Diaz after Liverpool rejected an initial 58.6 million pound offer, the Reds are proactively exploring replacements. Caught Offside reported that Liverpool have initiated talks with Fofana's agent, capitalizing on Lyon's financial pressures, which could see the French club accept a deal around 50 million euros.

This is significantly less than the 100 million euros demanded by Real Madrid for Rodrygo, making Fofana a more feasible option.

Fofana, who recorded 11 goals and six assists for Lyon last season, has attracted interest from eight other clubs, including Chelsea, Arsenal, Newcastle, PSG, and Juventus. However, Liverpool's prospects are boosted by Fofana's enthusiasm for the move.

His agent, Bobo Fofana, told Africa Foot in May, "The choice of heart would be Liverpool. He has the potential to enter the rotation, and above all, we would like to see him succeed African legends such as Mohamed Salah, Sadio Mane, and El Hadji Diouf."

The Belgian winger's explosive pace and flair have drawn comparisons to Manchester United's Alejandro Garnacho, with FBref ranking him in the 98th percentile for progressive carries among Ligue 1 wingers.

Lyon manager Pierre Sage praised Fofana's "quite enormous" 400 meters of sprinting in a single Europa League match against Eintracht Frankfurt, highlighting his relentless energy.

Meanwhile, Liverpool's pursuit of Newcastle's Alexander Isak appears to have stalled. Despite earlier approaches, Newcastle remain firm in their stance that the Swedish striker, valued at up to 130 million pounds, is not for sale.

Fofana's versatility, able to play on either flank or centrally, aligns with Slot's tactical vision. His development from Gent's academy to a key player at Lyon, where he earned his first Belgium cap in October 2024, underscores his potential to thrive in the Premier League's fast-paced environment.

As Liverpool navigate Diaz's uncertain future, their proactive approach in targeting Fofana signals their intent to maintain their attacking depth and defend their Premier League crown. With competition fierce and time ticking, the Reds are poised to act swiftly to secure their next star.

Report: Alexander Isak wants big money to pen Newcastle contract