Below is a summary of the full article. Click here for the full version or go back to LFC Live.net

Image Credits: Liverpool FC

Liverpool have emerged as one of several top clubs chasing Lyon winger Malick Fofana after French publication L’Équipe revealed earlier this year that the Reds had opened talks with the 20-year-old’s representatives at Roc Nation.

The Belgian international managed 11 goals and five assists in 41 outings for Lyon last season.

Liverpool are believed to be among the clubs keen on Fofana, and it’s clear that the Ligue 1 side want to sell their high value asset as soon as possible.

The urgency behind Lyon’s willingness to deal stems from their recent administrative relegation to Ligue 2, imposed by the DNCG after the club failed to rectify an estimated €175 million debt.

Facing the financial shortfall that accompanies a drop to the second tier, Lyon must raise significant funds this summer or risk further sanctions.

The club has already sold Rayan Cherki to Manchester City for an initial fee of £30.45 million.

And it seems they want to secure a bigger pay day with the transfer of Fofana.

According to The Independent, Lyon have placed an asking price of at least £51.5 million (€60 million) on Fofana, a valuation that could escalate amid interest from Arsenal, Chelsea, Fulham and Nottingham Forest in England, as well as Bayern Munich, RB Leipzig and Napoli across Europe.

With multiple bidders poised to trigger a bidding war, Liverpool will need to match -or exceed – Lyon’s lofty valuation to secure their man.

On Fofana’s part, he is aware of the Liverpool interest, saying in April this year:

“Honestly, I hear about it (Liverpool and Arsenal) but it doesn’t affect me, so I just focus on myself, and I know when I do great that the rest will come”, Fofana said.

“I watch a lot of the Premier League, I know there is a lot of big clubs, so for the moment, I just want to make that return on the pitch.”

“In my head I said to myself – ‘this season I have to show myself to the world’.

I know I am capable of that,” he explained.

“I know my talents, I know what I can do, so it was just a matter of time?

I know people will always talk – I stay calm, I have a great mentality so I know it will come.

Want to get the latest Liverpool news direct to your phone
For more news relating to Manchester City, visit our sister site City Latest Live.