Liverpool missed out on qualification for the Champions League group stages as they finished fifth in the Premier League at the end of the 2022/23 campaign.
The Reds ended up four points adrift of Newcastle United in their pursuit of a top-four place and will be competing in the Europa League next term.
Their failure to secure top-tier European football has not prevented them from being able to bolster their squad, though, as Alexis Mac Allister and Dominik Szoboszlai have both arrived to improve Jurgen Klopp's options in the middle of the park.
The midfield has seemingly been targeted as a priority position to strengthen after Naby Keita, James Milner, and Alex Oxlade-Chamberlain all left on free transfers, while Fabio Carvalho has gone on loan to RB Leipzig and Arthur has returned to Juventus after his temporary spell.
There could be further additions in that area of the pitch, given that they currently have three fewer options than they had last season, and Real Madrid's Federico Valverde is one who could come through the door.
Where would Federico Valverde fit in at Liverpool?
The reported €90m (£77m) transfer target for the Reds could be the dream replacement for Oxlade-Chamberlain as a goalscoring midfield player for Klopp.
During his injury-ravaged time at Anfield, the former England international showed signs of being a talented scorer from the middle of the park. Indeed, in his last season with more than 40 appearances, the ex-Arsenal man plundered eight goals and three assists during the 2019/20 campaign.
He missed a whopping 88 competitive matches through injury for Liverpool since 2017, meaning that the 29-year-old was rarely able to hit his stride due to a lack of regular game time.
Valverde, however, has only been absent for 37 games throughout the same period. The Uruguay international also showcased his ability as a goalscorer during the 2022/23 season with Real Madrid, where he found the back of the net 12 times in 56 outings.
The above graphic, as provided by Opta, shows that the 24-year-old is among the best in his position for goals and shots, which illustrates how much of an impact he can make in the final third from a midfield slot.
For context, Curtis Jones was Liverpool's top-scoring midfielder last season with three strikes, which suggests that Valverde would provide Klopp with a much-needed upgrade in that area as he scored seven goals in 29 LaLiga starts to prove himself to be a reliable attacking outlet.
The £181k-per-week ace, who was once described as "untouchable" by boss Carlo Ancelotti, averaged a Sofascore rating of 7.25 across 34 league appearances for the Spanish giants – a score that would have placed him second in the Reds squad, only behind Trent Alexander-Arnold (7.32).
These numbers prove that Valverde has the potential to be an incredible addition for Klopp if the talented Uruguayan is capable of translating his form from Spain in England.
Such a prospect would no doubt make him the dream replacement for Oxlade-Chamberlain this summer.