This story has been reproduced from today's media. It does not necessarily represent the position of Liverpool Football Club.
Liverpool's loan move for German left-back Diego Contento hinges on Arsenal's ability to complete a transfer for Bayern Munich teammate Luiz Gustavo.
According to reports in Germany Contento could still leave Munich this summer but only if Gustavo does not also leave.
Contento has been linked with a move to Liverpool, with Werder Bremen and Hertha Berlin also known to be interested, while Gustavo has attracted the interest of Chelsea, Wolfsburg and Napoli in addition to Arsenal.
But according to Bild, Karl-Heinz Rummenigge is only willing to sanction the departure of either Contento or Gustavo.
Rummenigge said: "We will only let one player leave."
Earlier today it was revealed Arsenal have tabled a £17.2m bid for Gustavo, and if that is successful, it would scupper any hopes Liverpool have of bringing Contento to Anfield to fill their problematic vacancy at left-back.
But even if Gustavo's move falls through, Liverpool are still likely to face competition from Werder Bremen for the £1.75m-rated Contento.
Bayern advisor Ludwig Kogl said about Contento: "There was contact with Werder but what matters is what Bayern want."]