Bayern's second offer is a significant one, and the club is confident that they can sign Diaz despite Liverpool rejecting their first offer. The 28-year-old player is seen as a way for Bayern to salvage their summer window, which has not gone as planned with many world-class players leaving without strong replacements.

Liverpool, on the other hand, wants to keep Diaz and has not held talks with him about extending his contract, which only encourages Bayern further. Manager Arne Slot is reportedly interested in Real Madrid winger Rodrygo as a straight replacement for Diaz, which would be another good piece of business for Liverpool.

Despite the ongoing talks between the two clubs, the deal is still far from certain and could fall through. Diaz is waiting to see if an agreement can be reached between the clubs, and he is willing to sign a contract that would keep him at Bayern until at least 2029.

The situation is complex, but one thing is certain: both clubs are eager to secure the services of one of the top wingers in the world.