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The Reds would be breaking their transfer record if the deal was to go through
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Liverpool have submitted an improved bid worth £100million plus £10-12million in potential add-ons for Bayer Leverkusen midfielder Florian Wirtz.
The 22-year-old Germany international is reportedly keen to join the Premier League champions after rejecting advances from Bayern Munich.
The Reds' latest offer follows an initial £85 million bid lodged earlier this week, which was rebuffed by the Bundesliga club.
Leverkusen had previously demanded £126 million during talks with Bayern Munich, though the asking price could be reduced for foreign clubs.
Liverpool reportedly offered £85million Florian Wirtz earlier in the week
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Wirtz has already given his approval for a move to Merseyside and is expected to sign a five-year contract at Anfield if Liverpool can strike a deal with his current club.
Liverpool officials met with Wirtz and his parents near Blackpool last week as part of their pursuit of the midfielder.
Boss Arne Slot played a crucial role in convincing the German international to choose Anfield over other potential destinations.
According to Bild, Slot had a meeting with Wirtz on May 13, where the Dutchman's passion during their conversation helped persuade the player that he wanted to join Liverpool.
Wirtz was particularly enthused by Slot's insistence that he would be central to his attacking plans for next season.
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Florian Wirtz was reportedly impressed by the manager's passion
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The Liverpool pitch impressed the Wirtz family, who have given the green light for a move to Merseyside after the midfielder made his name in the Bundesliga.
Bayern Munich officials have accepted that Wirtz has chosen Liverpool over the German giants, with the Bayern president Herbert Hainer telling German newspaper Abendzeitung: "[Director of sport] Max Eberl has informed me that Florian Wirtz is probably leaning towards Liverpool. I can't say how things will continue with Leverkusen."
Chief executive Jan-Christian Dreesen attempted to highlight Bayern's appeal when asked about their failing pursuit of Wirtz.
"Much more has been written than spoken," Dreesen said via the ECHO. "FC Bayern is one of the absolute top clubs in Europe and the world. Our appeal among fans, but also among players, is enormous."
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He added: "But everyone knows: with FC Bayern, you can win everything every year, you're involved in every competition - the upcoming Club World Cup is a good example of that."
Liverpool's improved bid could fall just shy of the Premier League transfer record if accepted by Leverkusen.
Chelsea currently hold the record having spent £115m to sign Moises Caicedo from Brighton in January 2023.
The Reds have also agreed to pay right-back Jeremie Frimpong's £29.5m release clause, meaning Wirtz would not be the only Leverkusen player heading to Anfield.
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Jeremie Frimpong has already agreed to join Liverpool from Bayer Leverkusen
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Liverpool's initial approach for Wirtz was rebuffed earlier this month before they returned with their enhanced offer.
The potential deal represents a significant investment by Liverpool as they look to strengthen their squad following their Premier League title success.
Wirtz's transfer would mark the most expensive signing in the club's history.
The 22-year-old played an integral role in Leverkusen's historic 2023-24 Bundesliga title triumph, scoring 18 goals and providing 20 assists in 49 appearances for Xabi Alonso's side.
He continued that stellar form last season, netting 16 goals and recording 15 assists in 45 appearances.
Former Liverpool midfielder Didi Hamann believes the Reds' quieter approach compared to Bayern's public charm offensive has been more effective in winning over the Wirtz family.
"I think the Wirtz family was also impressed by how they (Liverpool) handled it," Hamann told Bild. "Discreetly, quietly, all in the background."
Liverpool's understated strategy contrasts sharply with Bayern's more public pursuit of the midfielder, with the German club's officials making several statements about their interest in recent weeks.