Liverpool have rejected an offer worth about £15m from Southampton for Fabio Carvalho.
It is believed Southampton have had a long-standing interest in the 21-year-old forward, but their bid falls significantly short of what the Reds would want to sanction a permanent move.
Carvalho has impressed during Liverpool’s pre-season tour in the United States, having scored in wins against Arsenal and Manchester United.
However, he may find first-team opportunities limited when the rest of the Premier League club’s players, including forwards Luis Diaz, Darwin Nunez and Cody Gakpo, return from extended breaks after the Copa America and Euro 2024.