Liverpool are looking for a replacement for Philippe Coutinho, who had his dream move to Barcelona finalised on Saturday, and the Reds are long time admirers of the France global. The principality club won the Ligue 1 title ahead of firm favourites PSG, and the youngster played a key role in their triumphant campaign.
But given Lemar was a target for Liverpool towards the end of the summer transfer window, it seems likely he would remain on the radar following Coutinho's exit.
The left winger has endured something of a damp squib of a season compared to 12 months ago, with only two goals and four assists accrued in 19 Monaco appearances. And although the player is not a like-for-like replacement for the Brazilian, he certainly possesses the creative abilities that could see him take the mantle for years to come.
The former were willing to sell Alexis Sanchez to Manchester City this summer if they could get Lemar, but the deal fell through. The Gunners seem to have changed their stance on the Chilean's availability, with Arsene Wenger recently remarking that he does not fear losing him.
"We've had nothing yet to suggest that their transfer strategy has changed".
Liverpool would need to eclipse the club-record fee paid for Virgil van Dijk if they are to be successful in signing AS Monaco midfielder Thomas Lemar. However, 22-year-old Lemar decided that the move was happening too quickly and stayed in the principality.
Jardim has previously suggested winter departures for key players were unlikely, but he gave a softer response on the matter on Monday, per French daily L'Equipe (h/t the Liverpool Echo's Ian Doyle): "We are not used to selling in the winter".
"But", he added, "the transfer window lasts until the end of the month and many things can happen". "The expectation still remains that Lemar will remain in Monaco beyond this month's deadline".
The mega deal that saw Barcelona sign Coutinho means that Liverpool have funds available to them.