Liverpool remain confident of completing a pre-contract agreement to sign Fabio Carvalho from Fulham on a free transfer in the summer.
Jurgen Klopp's side ran out of time as they attempted to sign the 19-year-old on Monday and loan him back to Fulham for the rest of the season.
Carvalho will now see out the remaining six months of his contract at Craven Cottage, but discussions will continue as Liverpool attempt to agree compensation with the Championship side.
If they do not, a fee will be decided by tribunal - similar to the situation which saw Harvey Elliot move from Craven Cottage to Anfield in 2019.
Liverpool were close to completing Carvalho's signing on Deadline Day, but were unable to complete the necessary paperwork and submit it in time.
The Championship side insisted they wanted both a sizeable transfer fee for Carvalho, and for the attacking midfielder to remain at the club for the rest of the season.
It appeared Liverpool had met those demands, but both Carvalho's move to Anfield and his temporary switch back to Fulham needed to be completed before the deadline, and that was ultimately not possible.
