The 24-year-old's current contract does not expire until the summer of 2024. With that being the case, a free transfer is off the table for the time being.
Porto reportedly want £51 million for Diaz.
ANFIELD WATCH VERDICT
We would love to see the club sign Diaz. The winger is a quality player.
Diaz has scored 36 goals and registered 15 assists in 113 appearances for Porto's first-team.
The 24-year-old is also averaging a WhoScored player rating of 7.61 in the early stages of the 2021-22 club season.
The aforementioned figures highlight that Diaz would add quality to Liverpool's attack.
Also, the winger is still young, which means that he has plenty of football ahead of him.
Hopefully we see Diaz wearing the famous red in the near future. But, only time will tell if Liverpool are to make a move for Porto's No.7.