Arne Slot flew to the south of France last week to meet Rayan Cherki and discuss a possible transfer to Liverpool.
According to The Athletic, the Liverpool head coach briefly left his holiday to conduct the meeting before negotiations with Florian Wirtz intensified.
It has been widely reported the Lyon star is set to join Manchester City, this summer but The Athletic state Liverpool did its "due diligence" on the transfer and was "preparing for all outcomes".
The report adds that it is "normal to proceed with such conversations" while a priority signing has not yet been secured.
But, a move for Cherki seems dead in the water at this stage, with the Frenchman expected to join City, as Pep Guardiola plots to reconfigure his squad ahead of the 2025/26 season.
The urgency for the former Premier League champions to concluded business has been heightened due to the Club World Cup which begins in two weeks. The mini transfer window before the tournament closes next Tuesday.
Meanwhile, Liverpool is expected to sign Wirtz, a player City considered. Reports have indicated the Reds and Bayer Leverkusen remain some way off in terms of their valuation of the player, but a deal is still anticipated.
The fee could be a British record, with Leverkusen reportedly holding out for a figure of €150 million ($171M/£127M). The report in The Athletic adds this is seen as a "pivotal week" in terms of negotiations for Wirtz.
As for Cherki, who has been routinely linked with a move to Liverpool in recent months, he is expected to depart Lyon this summer, with the Ligue 1 club experiencing financial problems.
Reports have indicated the 21-year-old could be available for around £35M ($47M/£41M). Cherki has just a year remaining on his current deal at Lyon and has been open about his willingness to move on.
“I’m ready for any system,” the winger told L'Equipe in a recent interview. “I work every day, physically and mentally, to be ready.
"Above all, I’m trying to choose the best option for me, to develop as a person and a footballer.
“You’re never sure of anything. But I’ll say it: I did what I wanted to do at Lyon, be a true Lyonnais and give everything for my club,” Cherki added.
“I didn’t leave the ship in difficulty. I stayed, I gritted my teeth. I cried, I laughed, I was scared.
"But a man has to be like that, it’s part of his DNA. Even when it’s hard, even when you cry, even when you’re scared, you have to go to war for your club.”
City is also expected to sign Wolverhampton Wanderers left-back Rayan Ait-Nouri, while the Blues have been linked with AC Milan midfielder Tijjani Reijnders.