Liverpool have rejected the chance to sign Ozan Kabak for just £8.5m according to Goal.

Per the source, the Reds turned down a second opportunity to sign Kabak on a permanent deal after Schalke 04 slashed their asking price.

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Kabak joined Liverpool on loan in January but despite playing regularly the Reds decided against using their £18m option to sign the young defender.

Liverpool were given a second chance to sign Kabak according to the latest report for less than half of their buy option.

Schalke are reportedly desperate to offload the Turkey international to help fund for a squad rebuild after being relegated to the German second-tier.

Liverpool have already signed France centre-back Ibrahima Konate from RB Leipzig for £36m and have star defenders Virgil van Dijk, Joel Matip and Joe Gomez all returning from injury.

Additionally, the Reds also have Nat Phillips and Rhys Williams, who performed admirably last season in difficult circumstances, and Ben Davies,

The latest development could come as a boost for Leicester City who have been linked with the 21-year-old.

Kabak would team up with Turkey international teammate Caglar Soyuncu if the transfer were to go ahead this summer.

Kabak made 13 appearances in total following his move to Liverpool in January and formed a partnership with Nathaniel Phillips at centre-back.