Liverpool has declined a £58.6 million opening bid from Bayern Munich for forward Luis Diaz.
The German club approached Liverpool earlier this month but was informed that Diaz is not available for transfer.
This stance was reiterated on Tuesday when Liverpool rejected the Bundesliga team's initial offer for the 28-year-old Colombian international.
Liverpool values Diaz, whose contract runs until the summer of 2027, at over £87 million, considering him a crucial part of Arne Slot's squad.
Last season, Diaz scored 22 goals for both club and country, with 13 of those goals coming in the Premier League, where Liverpool secured the title by a 10-point margin.
Diaz drew interest from Manchester City last summer and has admirers in Saudi Arabia as well.
Liverpool is currently in the market for a striker and has expressed strong interest in Newcastle's Swedish international, Alexander Isak.
BBC Sport understands that the Premier League champions have made significant progress towards a deal to acquire Isak in recent days. They have also investigated the possibilities for other center-forward targets.
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