Chelsea reportedly made a last minute attempt at signing Cody Gakpo from PSV Eindhoven, but failed to match the bid made by Liverpool.
The Reds secured the signing of the Netherlands star on Wednesday night after moving quickly over the Christmas period to secure one of the hottest properties in football.
Liverpool also pipped fierce rivals Manchester United to the signing of Gakpo, with Erik ten Hag having already targeted the Dutchman in the summer transfer window.