#3. Donyell Malen - PSV Eindhoven
Another highly-rated youngster, Donyell Malen is on the watchlist of several European heavyweights.
The 22-year-old attacker is currently with PSV Eindhoven in Eredivisie, and has recently made headlines for his impressive performances. The youngster was instrumental in his team's title charge, spearheading their attack throughout the season.
He bagged 19 goals in 32 league appearances, leading PSV to a second-placed finish.
Malen generally plays as a centre-forward, but has shown in the past that he is more than capable of playing on the left side of attack as well. With Roberto Firmino seemingly looking off-color, it will certainly be Liverpool's priority to sign another attacker to compete for the starting spot.
With the 22-year-old featuring regularly for the Netherlands at Euro 2020, it looks increasingly certain that Malen will move to a bigger club soon. It goes without saying that Liverpool will be monitoring his situation very closely, hoping to work out a favorable deal for all parties.
#2. Renato Sanches - Lille
Renato Sanches has enjoyed a remarkable season with club and country.
Sanches first burst onto the scene years ago after his impressive performances with Benfica. Although the youngster's performances did earn him a move to Bayern in 2016, he made only 36 appearances in 3 years with the Bavarians.
Currently with Lille, the 23-year-old has been thoroughly impressive throughout the course of the season. He was a key member of Lille's Ligue 1-winning run this year, toppling holders PSG in what can only be described as shocking.
Sanches was called up to the Portugal squad for Euro 2020, and carried his brilliant form into the tournament. With Portugal perched in the 'Group of Death', Sanches impressed viewers worldwide with his tenacious gameplay.
Currently valued at £27 million, Sanches would be a bargain for Liverpool, should they choose to acquire the Portuguese's services.
#1. Raphinha - Leeds United
Liverpool have recently been linked with a shock move for Leeds United's Raphinha. The 24-year-old has been excellent in the Premier League, often exhibiting some traditional Brazilian flair that fans love to see.
Armed with excellent dribbling ability and a magical left foot, Raphinha bagged six goals and nine assists over the course of the Premier League campaign. He is famed for his unpredictable style and his ability to find the back of the net from difficult situations.
Liverpool are certainly in need of a bonafide winger. With AFCON scheduled for mid-season and both Sadio Mane and Mohammed Salah expected to miss a month, it is imperative that Liverpool plan ahead to address their concerns and challenge for the Premier League title.
With Raphinha carrying a market value of £27 million, several top clubs have shown interest in acquiring his services. With the transfer window open for another month, it remains to be seen as to who Liverpool will go for this summer.