Liverpool's failure to complete the deal could open the door for Napoli to snap up the youngster, who has worked with coach Maurizio Sarri during his time at Empoli.
Germany international Mario Gotze has dealt a huge blow to Liverpool's chances of signing him, as he pledged loyalty to Bundesliga champions Bayern Munich.
Armenian playmaker Henrikh Mkhitaryan has reportedly refused to sign a new deal at Borussia Dortmund, which has put Premier League club Chelsea FC on alert.
Saturday evening will be an emotional occasion for a couple of people as Bayern Munich take on domestic foes Borussia Dortmund in the final of the DFB Pokal at the Olympiastadion in Berlin.
With Liverpool hot on the heels of Mario Gotze, TheHardTackle takes a look at the possible formations manager Jurgen Klopp could use if the Reds pull off the signing of the out-of-favour Bayern Munich attacker.
Borussia Dortmund have completed the signing of Ousmane Dembele from French club Rennes amidst reports linking the French winger to Liverpool and Leicester.
Liverpool are reportedly a step closer to securing the signing of highly rated Rennes youngster, Ousmane Dembélé with an apparent personal phone call from Jurgen Klopp doing the trick for the Reds.
Armenian winger Henrikh Mkhitaryan has come into his own this season at Borussia Dortmund and the news that there are slight hiccups over his contract renewal at the Bundesliga club will put several of the top Premier League clubs on high alert.
Bayern Munich have confirmed the signing of Borussia Dortmund captain Mats Hummels, who is set to join the Bavarian club when the summer transfer window opens.
Borussia Dortmund star Pierre-Emerick Aubameyang has turned down Manchester United's offer in a bid to earn a transfer to Real Madrid next season, according to reports in the English media.