Noel Whelan suggested Liverpool are making a mistake not signing Timo Werner after Chelsea agreed a deal in principle with RB Leipzig for the striker.

The former Leeds United forward, speaking exclusively to Football Insider correspondent Dylan Childs, claimed the 24-year-old is available for a very reasonable price given his age and ability.

Football Insider revealed that Chelsea are closing in on the Germany international after agreeing to trigger his £53million release clause which expires next Monday.

The Reds were widely recognised as the frontrunners for the German but an unwillingness to pay the release clause allowed Chelsea to swoop in.

The Mirror’s David Maddock revealed to Redmen TV that the club are projecting losses between £70million and £200million as a result of the coronavirus pandemic and therefore could not sanction a move.

When asked by Football Insider if the Reds would be made to rue the decision, Whelan said: “It seemed like he was Liverpool bound. Only Jurgen Klopp will know why they have not gone in for him.

“He is a fantastic player with a great record in the Bundesliga and internationally.

“You have to move swiftly and Chelsea have done that.

“A player that is of a reasonable price for the age and quality that he has. It is not a bad price to pay.

“Liverpool need to strengthen in attack even though they have the famous three there. Origi is there and Minamino, but he needs more time.

“Klopp will want to strengthen in two or three positions in his squad ahead of next season. I am sure there will be money for him.”

Chelsea are likely to have more spending power than most this summer having been banned from signing players in the last two windows.

Werner has scored 31 goals and contributed 13 assists in 41 appearances this season.

In other Liverpool news, Danny Mills has told Football Insider £200k-a-week deal is “absolutely vital” to continued success at Anfield.