Barcelona have scuppered Liverpool's hopes of signing Spanish starlet Cristian Tello by handing him a new deal - but the Reds will be encouraged by his £8m buyout clause.
The Anfield side had been chasing Tello, 21, for the last few months but he will now continue his career in Catalonia.
The winger's new deal ties him to the Nou Camp club until 2016.
Liverpool may be encouraged by Tello's new buyout clause though - it is set at £8m.
Arsenal have also monitored the 21-year-old in the past.