The Reds are also intensifying their pursuit of Newcastle’s prolific striker Alexander Isak to bolster their attacking ranks.

The 20-year-old Fofana has caught Liverpool’s eye with his explosive performances for Lyon, where he scored 11 goals and provided six assists in 41 appearances last season.

Belgian journalist Sacha Tavolieri reported on X that Liverpool are “on standby” for Fofana, poised to move once Federico Chiesa’s potential departure to Serie A is finalized. Lyon’s financial woes, exacerbated by a recent relegation scare, have forced them to consider selling assets, with Fofana valued at around 60 million euros.

“Liverpool are closely monitoring Malick Fofana as they look for summer reinforcements,” Goal.com noted, highlighting the Reds’ view of him as a versatile, long-term investment.

Fofana’s former agent, Bobo Fofana, previously fueled speculation by declaring Liverpool as the player’s “choice of heart.” He said, “He has the potential to enter the rotation and succeed African legends like Mohamed Salah and Sadio Mane.”

Despite interest from Everton, Chelsea, and Nottingham Forest, Liverpool’s Premier League pedigree and Champions League status give them an edge.

However, transfer expert Fabrizio Romano cautioned that Fofana is “not the only option” for Liverpool’s winger position, with the club exploring multiple targets.

Meanwhile, Liverpool’s pursuit of Newcastle’s Alexander Isak is gaining momentum. The Swedish striker, who netted 23 Premier League goals last season, has reportedly agreed personal terms with the Reds, with a contract until 2031 in discussion.

TBR Football claimed Liverpool are preparing a record-breaking 130 million pounds bid, fueled by Isak’s absence from Newcastle’s pre-season tour and his reported frustration with the Magpies’ transfer activity.

Newcastle remain defiant, with manager Eddie Howe stating, “No, no chance,” when asked about Isak’s departure after a recent friendly. Yet, posts on X and reports suggest Isak’s omission from Newcastle’s new kit promotion and his training alone at Real Sociedad have fueled speculation.

The Times reported Newcastle are eyeing Wolves’ Jorgen Strand Larsen as a potential replacement, hinting at contingency plans.

Manager Arne Slot reflected on Diaz’s exit with optimism, saying, “Luis is a player we won the league with, a joy to work with, and a Premier League title winner. We’ve sold him for good money, and this club has a history of unbelievable signings.”

With funds from Diaz’s transfer and a clear intent to reshape their attack, Liverpool are poised to make waves. Fofana’s flair and Isak’s clinical finishing could herald a new era at Anfield as the Reds aim to defend their Premier League crown.

Report: Liverpool target Malick Fofana as Alexander Isak talks heat up