Liverpool Transfer News: Gary Cahill Rumours Emerge, Latest on Reds' Dealings

Liverpool are reportedly the surprise favourites to sign out-of-favour Chelsea centre-back Gary Cahill.

The England international has been sidelined behind Kurt Zouma and captain John Terry under interim manager Guus Hiddink and is reportedly looking to make a winter move to boost his UEFA Euro 2016 prospects, per Marc Williams in the Daily Star.

The report added the Reds have been installed as favourites to sign Cahill with some bookmakers ahead of Everton and Manchester United.

Cahill only signed a new four-year contract with the Blues in early December, but since the dismissal of Jose Mourinho a few days later, he has made just two appearances, per WhoScored.com.

The 30-year-old would be a useful addition at Anfield under Jurgen Klopp, as the Reds defence has been consistently weak in recent seasons—and they have been hampered of late by numerous injuries to centre-backs.

He is a vastly experienced player and would be all but guaranteed to provide a consistent level of quality lacking in Liverpool's back line.

However, it seems highly unlikely Chelsea would let Cahill go—and certainly not to a direct Premier League rival.

The Blues are short on cover at centre-back, and Cahill is undoubtedly the No. 1 back-up and has long been seen as the heir apparent to the 35-year-old Terry.

Elsewhere, the Reds are reportedly eyeing Newcastle United goalkeeper Fred Woodman, with the 19-year-old yet to sign a new contract at St. James' Park, per the Chronicle's Lee Ryder.

According to Bleacher Report's Dean Jones, Klopp wants to bring in another stopper to compete with No. 1 Simon Mignolet and Liverpool may not be the only team pursuing Barcelona's Marc-Andre ter Stegen.

Woodman could be an alternative option, as he has made good progress in recent seasons, but he is also being pursued by Crystal Palace, Tottenham Hotspur and Southampton, per Ryder.

Mignolet has come in for some strong criticism this season for his prolonged spell of below-par form, including from the Times' Oliver Kay:

He undoubtedly needs a better competitor for the starting spot than Adam Bogdan, who has never truly pushed Mignolet, and Woodman could be Liverpool's man.