Bayern Munich have submitted a formal proposal to sign winger Luis Diaz from Liverpool. The 28-year-old Colombia international has emerged as a top target for Bayern and their first official proposal arrived on Tuesday. It was worth €67.5million (£58.6m; $78.8m) and immediately rejected by the Premier League champions.

Liverpool have responded to Bayern Munich’s interest in Luis Diaz by naming their price for the Colombian winger.

Liverpool have rejected an opening offer of €67.5m from Bayern Munich for Luis Diaz and remain adamant that the Colombian forward is not for sale. The German champions had already made an approach for Diaz, which Liverpool had rebuffed, but they returned with a bid for the 28-year-old.