Liverpool are hoping for a breakthrough with Bayern Munich over the sale of Sadio Mane before attempting to conclude their move for Darwin Nunez.
The Reds have targeted the Benfica striker Nunez as they look to continue remoulding their attack following the arrivals in recent years of Diogo Jota and Luis Diaz.
Nunez wants a move to Anfield although Liverpool are reluctant to do business at Benfica's asking price of €100million (£85.5m) and won't be drawn into a bidding war, with Manchester United in particular also interested in the player. However, those close to Benfica have indicated the Portuguese side are open to a structured deal which would see Liverpool pay an initial €80m (£68.4m) set fee with €20m (£17.1m) in add-ons.
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Any transfer, though, is dependent on the Reds raising funds by moving on some of their other forwards. Takumi Minamino is nearing an expected £17m departure with a number of clubs interested, but the main exit would be that of Mane.
Bayern Munich want to sign the Senegal international, who is approaching the final year of his deal. Liverpool have already rejected two bids from the Bundesliga side but will accept an offer approaching £42.75m - the same as Bayern are asking from Barcelona for Robert Lewandowski.
It is understood Bayern have sufficient funds regardless of whether or not their transfer demands over Lewandowski are met.
Reports on Thursday claimed Liverpool have already agreed personal terms with Nunez - a five-year contract offer was already suggested - but the deal with Benfica will only be likely to progress once the Reds receive guarantees over Mane's transfer.
Nunez is currently on international duty with Uruguay, who face Panama on Saturday in their final fixture of the season. The player is understood to want his future sorted as soon as possible.
