Roberto Firmino has a €98 million release clause that can be triggered by any club except Arsenal, according to the latest Football Leaks releases in Le Soir.
The Gunners upset Liverpool officials in 2013 by bidding £40m + £1 for Luis Suarez in the belief it would trigger a buy-out clause in the striker's contract, with Reds owner John W. Henry tweeting in response: "What do you think they're smoking over there at the Emirates?"
And Liverpool appear to have taken retributive action by specifying in Firmino's deal that he can be bought for €98m (£82m) "if the interested club is not Arsenal".
Firmino signed for Liverpool from Hoffenheim in June 2015, with the Brazilian forward agreeing a "long-term" contract at Anfield.
After scoring 10 goals in 31 games in his debut season in the Premier League, he has established himself as one of the division's top attacking players in 2016-17 by scoring five goals and assisting three more in 13 matches.
That form - and his combination play with his compatriot Philippe Coutinho - has helped to boost Liverpool into third place in the English top flight.
The disclosure regarding his contract comes as part of the latest series of releases by Football Leaks, who have exposed substantial amounts of information in the contracts of top players and clubs over the past year.
The most recent leaks include claims that clients of Jorge Mendes' agency Gestifute - such as Cristiano Ronaldo, Jose Mourinho and Mesut Ozil - have evaded taxes owed to the countries in which they play. Gestifute have strongly denied any wrongdoing.