Liverpool have reportedly tabled a £12.5million bid for Bologna winger Gaston Ramirez.
Ramirez has been linked with the Reds for some time, with Liverpool scouts watching him on several occasions last season.
The highly-rated Uruguay international, who is free to sort out his future now that his country have been eliminated from the men's football tournament at the London 2012 Olympic Games, has also been linked with the likes of Chelsea, Manchester City and Manchester United, although it has been thought for some time that Liverpool were favourites to sign the 21-year-old.
And according to Calciomercato, the Merseysiders have made a £12.5m bid for the forward.
It is thought Bologna are holding out for a fee in the region of £16m, although according to the report coming out of Italy, an improved offer of around £14m plus add-ons could be enough to see the player move to Anfield.
Inter Milan are also keen on signing Ramirez, but his agent Pablo Bentancur recently revealed he was holding talks with an unnamed Premier League club.
"Inter, they like the player, but we are very far off with regards to the valuation, since now Bologna ask for nearly €25million," he late last month.
"The player is very likely to say goodbye to Italy, so much so that now I am in London to talk with a Premier League club."
Bologna's sporting director, Roberto Zanzi, has told clubs wanting to sign Ramirez that their valuation must be met if a deal is to go through.
And Betancourt believes the asking price is easy to justify.
"He is one of the most important players in his national team, therefore there is no shortage of offers," he added.
"He is unlikely to remain in Italy."
Reports in Italy last week suggested Tottenham were considering joining Liverpool in the race to sign Ramirez.