Liverpool have been handed a boost in their pursuit of Thiago Alcantara as Bayern Munich CEO Karl-Heinz Rummenigge has admitted that the club are willing to sell a prized asset for a "fair transfer fee".

Thiago only has one year left to run on his current contract with Bayern, and has been heavily linked with a move to Liverpool over the past few months.

Rummenigge confirmed in July that the 29-year-old has turned down the opportunity to extend his stay at the Allianz Arena, with it his desire to experience a new challenge away from Germany after seven successful years in the Bundesliga.

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