Sancho has been linked with a host of Europe’s top clubs, including Manchester United , Real Madrid , Barcelona and Paris St-Germain.
Recent reports have indicated that Chelsea are the frontrunners for his signature and have the £120million thought to be necessary for his signature after their transfer ban was lifted.
But Liverpool remain in the hunt for the former Manchester City winger and have a plot to steal in and sign him ahead of their Premier League rivals.
According to ESPN, the Reds are looking to pay for the winger now – but will him join the Anfield outfit in the summer, in a move similar to the one that saw Naby Keita move to Merseyside.
The report also revealed that Liverpool will not be looking to renew any contracts in January, which leaves Adam Lallana and Nathaniel Clyne staring at exits.
The former Southampton duo will see their deals expire in the summer, meaning they will be free to leave.