Liverpool transfer news: Reds face Mohamed Salah dilemma in Kylian Mbappe chase

Liverpool got their Mohamed Salah-less January off to a flier with a last-gasp win over Arsenal to book their spot in the next round of the FA Cup.

Jurgen Klopp will be keen for a similar result in the Carabao Cup this week as the Reds welcome Fulham in their semi-final first leg before a well-earned winter break. There will be no such let up for Salah, who will be in action when Egypt kick-off their Africa Cup of Nations campaign on Sunday.

But navigating life without their star forward might be something Liverpool will have to get accustomed to if they are serious about any grand ambitions of bringing Kylian Mbappe to Merseyside.

Here are the latest transfer rumours from around Anfield...

Madrid or Merseyside? That appears to be the question for Paris Saint-Germain's star man.

But while reports in Spain suggest Mbappe has already signed on the dotted line at the Bernabeu, it seems Mbappe remains undecided over his future. ESPN claim Liverpool are still very much in the race for his signature - but only if they can bankroll the staggering finances that will be involved to land the Frenchman.

Mbappe is currently on wages around €650,000 per week (£560,000). By contrast, Salah is Liverpool's top earner on £350,000 per week. Mbappe is said to be willing to reduce his demands for the right club, but even then any deal would place significant strain on Liverpool's budget.

The France star would also command a big signing-on fee due to him being available as a free agent and it would be almost unthinkable for Liverpool to seal a deal with Salah on the books. ESPN's report adds that Mbappe will make his mind up in the coming weeks, leaving little time for Liverpool to arrange Salah's departure and construct an offer, should the Reds