Liverpool and Arsenal have been rivals on the pitch for many years, and the Premier League have often pursued the same players in the transfer market.
The next instalment of the latter is expected this summer, following reports from CaughtOffside that Liverpool are looking to sign Marco Asensio from Real Madrid.
The 27-year-old is out of contract this summer, and has reportedly rejected the opening contract offer from Los Blancos, which has sparked questions about his future at the club beyond this season.
Asensio would likely be a replacement for Roberto Firmino, with the Brazilian set to leave Liverpool when his own contract is up at the end of the season. Firmino could end up doing the opposite for Asensio by swapping Liverpool for Madrid, having previously been linked with a move to Atletico Madrid.
Arsenal are said to be making moves to sign Asensio, but Liverpool are likely to complicate things. Nevertheless, Asensio is expected to have options, should be decide to leave Real Madrid upon the expiry of his contract.