Diaz is keen for a new challenge away from LiverpoolCredit: Getty
The Premier League champions' stance has been that Diaz is not for sale but that could change depending on how high Bayern bid and if they can source a suitable replacement.
Bayern hope that the new offer will be enough for Liverpool to accept losing the Colombian who is open to a new challenge away from Anfield.
The Reds would make a huge profit on Diaz should they accept £70m, having signed him for an initial fee of just £37.5m.
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