With the January transfer window open, Premier League side Liverpool have the chance to strengthen their squad for the second half of the season.The Reds have fallen behind Manchester City in the race for the league title. They will hope to close down the 14-point lead Pep Guardiola’s side have opened up in the coming months.Liverpool were held to a 0-0 draw by Arsenal in the first leg of the Carabao Cup semi-final in their last game. They will now hope to beat Brentford in their next game in the Premier League and return to winning ways.On that note, here's a look at the key transfer stories revolving around the Merseyside club as of January 15, 2022.Tielemans is not on Liverpool's radarYouri Tielemans is a player who has been linked with several clubs, and Liverpool were reportedly said to be interested in him. CBS’ Ben Jacobs, however, has claimed the Reds are not looking to sign him.Leicester City managed to keep hold of Tielemans last summer, but might struggle to keep him past another summer.Ben Jacobs@JacobsBenLiverpool are not interested in Tielemans in January. Manchester United have long-admired Tielemans but their contact with his agent pre-dates Rangnick and nothing significant since. #MUFC scouted Tielemans even before he joined Leicester so their interest is natural.5:21 AM · Jan 15, 202226836Liverpool are not interested in Tielemans in January. Manchester United have long-admired Tielemans but their contact with his agent pre-dates Rangnick and nothing significant since. #MUFC scouted Tielemans even before he joined Leicester so their interest is natural.Liverpool’s midfield has looked light at times this season, and the Reds do need a new addition to add some security and solidity.Tielemans would be a solid replacement for Gini Wijnaldum, who the club failed to replace last summer following his departure to PSG. It remains to be seen if Liverpool will consider a move for him next summer.Liverpool receive Elliot boostHarvey Elliot is set to return to training next week and hand Liverpool a timely boost ahead of some key games.The Reds looked toothless in attack without Mohamed Salah and Sadio Mane against Arsenal in the first leg of the Carabao Cup tie.LFC Transfer Room@LFCTransferRoom𝐍𝐄𝐖𝐒: Harvey Elliott is set to return to first-team training next week as he steps up his recovery from a dislocated ankle. The 18-year-old midfielder sustained the injury at Leeds four months ago.Source: @guardian_sport 🏴󠁧󠁢󠁥󠁮󠁧󠁿4:12 AM · Jan 15, 2022141181❗️𝐍𝐄𝐖𝐒: Harvey Elliott is set to return to first-team training next week as he steps up his recovery from a dislocated ankle. The 18-year-old midfielder sustained the injury at Leeds four months ago.Source: @guardian_sport 🏴󠁧󠁢󠁥󠁮󠁧󠁿 https://t.co/yvVuLMH3CWElliot can play in Salah’s position as well as a deeper midfield role. It remains to be seen how long it will take for him to return to the first-team fold as he has just returned from a broken ankle.Liverpool favourites to sign Luis DiazAccording to bookmakers, Liverpool are favorites to sign Porto winger Luis Diaz this month.Several outlets have linked Liverpool with a move for the winger as their options in attack have been stretched this month.Porto will not sell Diaz for less than £58 million, so it remains to be seen if Liverpool will dish out that kind of money in January.The 25-year-old is level at the top of the goal-scoring charts in Liga NOS with 13 goals. His displays have caught the eye of several top European sides.