Liverpool will almost certainly feel a transfer move for Harry Kane will be out of their reach this summer even if they are one of the clubs who can give him what he wants footballing-wise.

But the Reds - and in particular, transfer chief Michael Edwards - will still have a close eye on what Kane does this summer, as the impacts on Liverpool are clear.

If Kane was to link back up with Mauricio Pochettino at PSG, for example, they would become an instant favourite for the Champions League, while a move to either Manchester club would see their odds of winning the Premier League next season significantly shortened.

More pressing than that, however, would be the knock-on effect in the summer transfer window that Kane - or another similar big player switching clubs for big money - would have.

"Maybe Harry Kane is opening the door for everyone," said Theo Squires on the latest Agenda podcast from Blood Red.

" Jurgen Klopp said last week that he struggles to see an Erling Haaland, Kylian Mbappe or Jadon Sancho making a big-money move this year because maybe the money isn't there for a lot of clubs.

"But all it takes is one big transfer to trigger it across Europe - say Kane goes and Spurs get a big price, they will have money burning a hole in their pocket and they will need a replacement."

Covid-19 has impacted the transfer market but at this moment, it is unclear exactly to what extent.

Get all the latest Liverpool FC news from the Blood Red channel, including insight, debate, exclusive interviews, injury updates, transfer rumours, tactics and analysis of what's next for the Reds both on and off the pitch.

You'll get the latest written articles from Blood Red, plus the best Liverpool FC podcasts and videos featuring our reporters twice a week, all direct to your inbox for FREE!

Sign up here - it only takes a few seconds!

There is almost certainly going to be a decrease in valuations this summer across Europe - but the first one of those players to move will set the precedent.

Almost the opposite effect of when Neymar moved from Barcelona to PSG for around £200m and prices were inflated - Liverpool would likely not have got £142m for Philippe Coutinho without the Neymar deal taking place, for instance - this summer the precedent will be set in how much transfer fees are lowered .

Liverpool will almost certainly feel signing Kane from Spurs is unrealistic, but they will still be watching on closely with a high degree of interest.

Only once the first big deal is done will Liverpool know what the level is that they should be willing to pay for their own targets.

"Neymar changed the market and it would probably still be growing now if it hadn't been for the pandemic," Squires added.

"Liverpool were looking at selling, say, Divock Origi, Harry Wilson and Marko Grujic for £20m or so, but now they may be looking at £15m or so.

Must-read Liverpool FC news

"And even then, you don't know if a team will stump up the cash.

"It will be a case of one big player needing to move and then the rest of the cards will fall."

If Kane does leave Tottenham, then it won't be without a fight from chairman Daniel Levy, who will squeeze everything out of the transfer move financially.

But whether it is Kane or someone else, Liverpool must watch closely for the first big move of the summer, because that will set the precedent for the rest.