Thomas Lemar and Leon Bailey

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Liverpool have just sold Philippe Coutinho to Barcelona, and the Reds could do with signing a big-name replacement in the January transfer window.

'But the transfer window lasts until the end of the month and many things can happen'.

Liverpool would need to eclipse the club-record fee paid for Virgil van Dijk if they are to be successful in signing AS Monaco midfielder Thomas Lemar.

Arsenal are reportedly set to step up their pursuit of Thomas Lemar this month, with Alexis Sanchez inching closer to a move to Manchester City.

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Lemar is regarded as one of the most exciting young midfielders to have emerged out of France in recent years, thanks largely due to his exploits for Monaco last season.

"January, in football, never say never, but this is not what we're thinking of, this is really not in our plans", Vasilyev told Sky Sports News chief news reporter Bryan Swanson. Keen on immediately replacing the departing Chilean forward, Arsenal manager Arsene Wenger has once again reignited interest in Monaco ace Thomas Lemar.

And his boss, Leonardo Jardim has hinted although subtly that the Ligue 1 Champions are ready to business this month, which opens the doors for both Liverpool and Arsenal. With surging interest of the top clubs in their prized possession, Monaco have made a decision to encash big on Lemar and have demanded a whopping £90 million for his services.

Lemar would be a natural replacement for Coutinho but Liverpool FC could be forced to pay over the odds for the talented France attacker given Monaco will be aware of the Reds' inflated transfer budget. It now remains to be seen if the figure turns out to be prohibitive for either Arsenal or Liverpool, or if either club ends up signing him.