Fabrizio Giovannozzi/Associated Press
The on-off transfer of Yevhen Konoplyanka from Dnipro Dnipropetrovsk to Liverpool was the talk of transfer deadline day.
Anfield managing director Ian Ayre had been in Ukraine for 48 hours to conclude the deal for the 24-year-old, as James Pearce of the Liverpool Echo reported.
According to the same article, Konoplyanka passed his medical and agreed to a long-term contract with the Merseyside club.
But the £15 million deal for the player collapsed as Dnipro owner Ihor Kolomoyskyi decided he would not sell Konoplyanka, claims Pearce.
The January transfer window has not been kind to Liverpool.
The Reds enjoyed an excellent first month of 2014, winning five of their six matches in league and cup, including the 4-0 drubbing of neighbours and Champions League rivals Everton.
However, Brendan Rodgers' transfer hopes failed to materialise as the Konoplyanka deal followed the proposed move for Basle winger Mohamed Salah into the "fail" category.
Salah was swiped from under the noses of Liverpool by Chelsea during the window after the Reds took too long to finalise their move for the player, as David Woods of the Daily Star reported.
The real concern for Reds fans here, though, is why aren't the club capitalising on the fact they are riding high in their best position for years?
Liverpool manager Rodgers appeared on the club's official website on Saturday to absolve the Anfield hierarchy of blame for the lack of signings in January:
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.
Liverpool are currently in the top four of the Premier League chasing a return to the Champions League and its subsequent riches for the first time since the 2009-10 season when they failed to qualify from their group.
They possess one of the most feared forwards in world football in the shape of Luis Suarez, who signed a new deal with the club just before Christmas.
Surely the Reds are in a commanding position for players looking to enhance their careers?
The club owners are entitled to be careful with finances, particularly after the failure of the £35 million shelled out on Newcastle striker Andy Carroll in January 2011, but sometimes one has to speculate to accumulate as the old adage goes.
And Tottenham have already been linked with a summer move for Konoplyanka, according to Simon Jones and Dominic King of the Daily Mail.
Liverpool fans have every right to be concerned that a lack of newcomers may impact their top-four hopes.
Believability Meter: High
It is a very odd state of affairs that Liverpool were not able to strengthen their squad midway through a season which promises so much.
Supporters are right to question why they missed out on players such as Salah and Konoplyanka, even if the Dnipro owner has been blamed for missing out on the latter.
Wayne Rooney once famously questioned Manchester United's ambition as he handed in a transfer request in 2010. Who is to say Suarez won't be getting that same feeling?