The bid from the Reds comes after Arsenal manager Arsene Wenger said that the deal to bring him to the Emirates was ‘dead’ late last week.
Although the 21-year-old is under contract at Stade Louis II until 2020, Liverpool are desperate to bring him to the club with a bid that exceeds their valuation by almost £25m.
It would smash their current transfer record, which was broken earlier this summer with the £39m arrival of Mohamed Salah from Roma.
The French international would also be the perfect playmaker should Philippe Coutinho leave to join Barcelona.
