Liverpool may have been linked with a number of big names since the end of the Barclaycard Premiership season but today look to have missed out on the architect of their Champions League exit.
Basle midfielder Hakan Yakin has been a long-term target of Reds boss Gerard Houllier and was a key part of the Swiss side's two draws with Liverpool in the Champions League first group stage.
But Yakin's agent Ertan Irizik confirmed the Switzerland international is on the verge of a move to Atletico Madrid.
Irizik said: "We have agreed contract terms with Atletico for Hakan and expect the deal to go through this week."
The Anfield club are believed to have watched Sporting Lisbon's 18 year-old Cristiano Ronaldo and are expected to have a scout running the rule over the youngster when Portugal play Japan tonight in the Toulon tournament.
Portuguese sources claim Liverpool number two Phil Thompson has twice watched the youngster, while an Anfield scout saw him score and play superbly in Portugal's defeat of England in the Toulon tournament last week.
But Ronaldo, who can play on the left and right flanks, is just one of a clutch of players Houllier is believed to have made inquiries about. Hamburg's Iranian winger Mehdi Mahdavikia, Udinese's Chilian star David Pizarro and Inter Milan's France international midfielder Stephane Dalmat are all reportedly on Houllier's hit list.
Houllier is also facing competition for Auxerre defender Jean-Alain Boumsong, who is now interesting new Aston Villa boss David O'Leary while Chelsea are keen on Fulham's Steed Malbranque.