Liverpool have discovered the cost of signing Lyon star Rayan Cherki, as the financially troubled French club looks to generate significant funds through player sales in January.

Lyon, battling relegation from Ligue 1, face reported debts of €500m (£418m, $529.5m). To avoid dropping to Ligue 2, the club reportedly needs £91m (€108.9m, $115m) in revenue before the season ends. This situation could present Liverpool with an opportunity to secure Lyon’s prized assets at reduced fees.

Rayan Cherki, under contract with Lyon until the summer of 2026, has been on Liverpool’s radar since the summer transfer window, though he remained with the French side.

According to Foot Mercato, the France Under-21 international is valued between €30m and €35m (£25m–£29.2m). While Liverpool are currently keeping tabs on Cherki, they face competition from Paris Saint-Germain, Newcastle United, and Bayer Leverkusen, who are also closely monitoring the 21-year-old’s situation.

Cherki to Liverpool could be on the way

Faced with significant financial struggles, Lyon has been hit by the DNCG with a provisional relegation from Ligue 1, a transfer ban, and strict wage supervision.

While Lyon insists they won’t sell their players cheaply to raise funds, their risky position limits their bargaining power. Rayan Cherki, who has contributed two goals and three assists in 11 appearances this season, remains a potential sale, though it hasn’t been straightforward. He reportedly turned down a move to PSG in the summer and rejected Fulham in January.

Owner John Textor, who also holds a majority stake in Crystal Palace, recently acknowledged the uncertainty surrounding Cherki’s future. This uncertainty could provide Liverpool with an opportunity to strike a deal.

Lyon president John Textor via Fabrizio Romano, Stated

“We lost €15m from his sale last summer… but his value is now way higher”. “He should stay in January but it’s up to Rayan, he decides what he wants to do”.

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Considering Cherki’s long-standing admiration for Real Madrid, a move to Spain wouldn’t be entirely unexpected. While clubs like Liverpool are keen, the Frenchman’s dream of playing for Los Blancos could make a potential switch to La Liga seem more likely, adding further uncertainty to his future at Lyon.