Shakhtar chief executive Sergei Palkin has claimed Borussia Dortmund have yet to complete a deal for Liverpool target Henrikh Mkhitaryan.
The Armenian midfielder has long been the subject of strong interest from the Merseyside club, but reports emerging from Germany on Friday appeared to suggest that Dortmund were close to a late swoop.
However, Palkin has now suggested that Liverpool still have hope, with the Bundesliga outfit still some way from confirming the 24-year-old's arrival.
"I have not talked to him. Borussia have offered us €25 million - to us, this is not enough, but we are talking to the German club," he is quoted by football.ua.
"There is a real possibility that we will come to an agreement in the near future."
Palkin went on to explain that he has no knowledge of Mkhitaryan already agreeing personal terms with Dortmund.
"Such questions should be directed to the player and his representatives," he added.
Mkhitaryan scored a record 25 goals in just 29 appearances in the Ukrainian Premier League last season.