Liverpool have launched a bid for Real Madrid midfielder Marco Asensio.

The Spanish youngster is a summer target for Chelsea and Arsenal, however Diario Gol says the Reds have made a firm €50 million bid for the midfielder.

Asensio's agents are seeking a pay-rise from Real and have entered negotiations this week armed with Liverpool's offer.

The Reds' bid came over the same 48 hours which also saw a €20 million offer lodged with Lazio for defender Stefan de Vrij.

Asensio knows he's in a strong bargaining position, having been selected ahead of James Rodriguez and Lucas Vazquez by coach Zinedine Zidane for Saturday's Champions League triumph.

Just this week, Reds boss Jurgen Klopp admitted he was in the market for a new winger signing - and Asensio fits the bill.