Premier League giants Liverpool have joined the race to sign Toni Kroos in the summer.

According to Oliver Kay, Liverpool are interested in signing Toni Kroos from Bayern Munich, but the possibility of bringing the midfielder to Merseyside looks highly unlikely due to the money involved.

Oliver Kay:”Liverpool’s interest in Kroos, at present, is unlikely to crystallise into a firm bid because, if he were really tempted to leave Bayern (and the suspicion remains that he will stay in Munich, his pay increased substiantially), it would require a five-year contract worth upwards of £220,000 a week plus a transfer fee of more than £35 million.”

Kay also suggests the Liverpool transfer committee are looking for players that would cost them £10 million to £25 million range like they did last summer, inspired by the success of Philippe Coutinho and Daniel Sturridge.

Manchester United tried to sign Toni Kroos in the winter transfer window – but the Red Devils have not given up and will look to sign him in the summer. Recently, Toni Kroos confirmed the possibility of playing in the Premier League.

Toni Kroos on his future: ‘No decision has been made. It is no secret that the Premier League is a possibility for me’ #mufc

— Henry Winter (@henrywinter) March 10, 2014

Bayern Munich’s chairman Karl-Heinz Rummenigge restated that Manchester United target Toni Kroos, whose contract expires in 2015, will not be allowed to leave at the end of the season.

“Toni Kroos is sure to play in a Bayern Munich shirt next year as well,” Rummenigge told reporters.

Volker Struth, the player’s agent, revealed earlier this week that Kroos will remain at Bayern.

“We are confronted with a variety of rumours for months but at the moment I believe that Toni plays in Bavaria until 2015 at least,” he told the German newspaper Bild.

Toni Kroos future remains unclear at the moment, however Liverpool’s return to Champions league will give them the edge over Manchester United if the midfielder decided to leave Allianz Arena.