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Liverpool FC emerged from the January transfer window empty handed after being frustrated in their attempts to complete a deal for Dnipro Dnipropetrovsk’s Yevhen Konoplyanka.

Managing director Ian Ayre had spent 48 hours in Ukraine desperately trying to secure the services of the 24-year-old winger.

Ayre believed Konoplyanka would be heading for Anfield after Liverpool’s improved offer triggered a £15million buyout clause in his contract.

The highly-rated Ukraine international passed a medical and agreed a long-term contract with the Reds.

You can reread our transfer deadline day live updates here

However, the transfer couldn’t go through before the 11pm deadline because Dnipro’s multi-billionaire owner Ihor Kolomoyskyi wouldn’t sign the relevant paperwork.

Konoplyanka was desperate to make the move to Anfield and informed Kolomoyskyi of his desire to seek a new challenge in the Premier League.

The ECHO understands the deal didn’t collapse due to finance but simply the owner’s point blank refusal to sell one of his prized assets.

As a result Ayre had no option but to admit defeat in his pursuit of the left-sided attacker.

Despite reports suggesting there was interest from a number of other European clubs, Liverpool were the only one in direct discussions with Dnipro.

It’s a blow for boss Brendan Rodgers who viewed Konoplyanka as the perfect addition to boost the Reds’ pursuit of a Champions League spot.

Liverpool had turned their attentions to Konoplyanka, who scored against England at Wembley during World Cup qualifying, after missing out on top target Mohamed Salah.

The Egypt international ended up moving from FC Basel to Chelsea after the Londoners out-bid the Reds with a £16million package.

Rodgers had made it clear he wanted to strengthen his squad during January in order to ensure they are able to last the pace in the race for a top four finish.

However, the manager has shrugged off the disappointment and is confident the lack of reinforcements won’t return to haunt Liverpool come May.

The Reds sit fourth in the Premier League – three points clear of Tottenham – ahead of tomorrow’s trip to West Brom.

“If you look at the position that we're in with 15 games to go, we have shown consistently that we have the squad to compete,” Rodgers said.

“The benefit of the second half of the season is that there is still a lot of development left in a lot of our players.

“We have a lot of young players playing in the team who are growing and improving all the time.

“Them gaining experience and playing games, with the consistency of the team, adds up for a really exciting last 15 games for us.

“We're still looking to build something here, but we've shown good signs and progress. We just need to keep that focus and concentration on our job.”

Rodgers had said he wasn’t interested in picking up any more squad players during January, but only those of sufficient calibre to improve his starting XI.

That search ultimately proved fruitless.

“I think it's difficult in order to bring certain players in that are going to help us immediately,” he added.

“The availability of the player, and of course the affordability, are always the two factors involved in getting a player in.

“It certainly hasn't been because of a lack of work by the football club. There are lots of people who have worked tirelessly to identify and find the right types of players. A lot of those players haven't been able to become available for us.

“Of course, as a manager, you would like to have strengthened, but I'm very optimistic with the group of players I still have available here.

“If we can keep those players fit, and maximise the availability for the rest of the season, we can have a great chance to have a really good finish.”

The only player to leave Liverpool on deadline day was Academy striker Michael Ngoo, who has joined Walsall on loan until the end of the season.