Liverpool will not be especially worried by the transfer business being conducted by their Premier League rivals this summer.
The Reds have got the bulk of their arrivals done early, bringing in Florian Wirtz, Jeremie Frimpong and Milos Kerkez.
With Giorgi Mamardashvili also arriving, and a couple more deals likely to be done before the window shuts, Liverpool are in a good place.
By contrast, it has been a little quieter at last year’s runners-up Arsenal. The Gunners finally signed Martin Zubimendi and Christian Norgaard looks set to arrive from Brentford, but these moves will not scare Liverpool.
Arsenal are likely to sign Viktor Gyokeres which could lead to concern at Anfield, but Mikel Arteta’s side still look to lack firepower up front.
To remedy that, it has been reported that Arsenal are trying to sign Noni Madueke from Chelsea. But as the two London clubs negotiate for the England international, there is a reason why Liverpool will be taking a keen interest in what eventually happens.
Esperance de Tunis v Chelsea FC: Group D - FIFA Club World Cup 2025
Photo by Jonathan Moscrop/Getty Images
Liverpool can use Noni Madueke as a guide price
As per journalist Fabrizio Romano, Arsenal have made an opening offer of £50m to Chelsea for Madueke.
However, somewhat remarkably, the Blues have rejected the approach. Romano claims Chelsea are looking for more than £50m for Madueke, with Newcastle’s £55m signing of Anthony Elanga reportedly being used as a yardstick.
MORE LIVERPOOL STORIES
🚨🔴⚪️ EXCL: Arsenal have submitted initial bid for Noni Madueke around £50m package, add-ons included.
Chelsea want more than £50m fixed as Elanga/similar deals remain their reference.
Good relationship between clubs as talks continue, Madueke agreed terms with Arsenal. pic.twitter.com/AVsqEZ0GXg
— Fabrizio Romano (@FabrizioRomano) July 9, 2025
View Tweet
Liverpool’s interest in this transfer comes in the shape of the current clamour surrounding their own flying winger: Luis Diaz.
Reports from Germany have claimed that Diaz has agreed terms with Bayern Munich, yet Liverpool remain adamant that the Colombian is not for sale.
READ MORE: Liverpool interested in signing ‘Dean Huijsen-esque’ Giovanni Leoni from Parma
With Barcelona also pushing to sign Diaz, though, and Saudi Arabian side Al Nassr also likely to make an approach, it feels possible that he will be sold.
But Liverpool will not let Diaz go on the cheap. And if players like Madueke are fetching over £50m in the transfer market, then the valuation of the Reds’ No. 7 may need to change again.
How much is acceptable for Luis Diaz sale?
Although you can understand Chelsea trying to maximise value on Madueke – especially with Arsenal willing buyers – the Gunners look certain to overpay.
Chelsea bought the 23-year-old for £29m from PSV Eindhoven in January 2023. Since then he has scored 20 goals and laid on seven assists in 92 appearances. Last season he hit 11 goals and four assists.
By comparison, Diaz scored 17 goals and registered five assists in 2024/25. He has more than doubled Madueke’s goal tally in 56 more appearances for Liverpool.
Granted, Madueke is five years younger and therefore could still improve, but Diaz is in his prime years and could deliver instantly for a top European side.
So, if Madueke ultimately goes for the £55-60m Chelsea seemingly want for his sale, Liverpool will be emboldened to ask for a minimum of £70m to let Diaz leave.
Anfield chiefs will no doubt be watching on with great interest as the market takes another turn.