Liverpool and Spurs lose out in race for £20m midfielder Henrikh Mkhitaryan

Henrikh Mkhitaryan (left) takes on Chelsea’s John Obi Mikel in 2012 (Getty Images)

The much sought-after Armenian midfielder Henrikh Mkhitaryan of Shakhtar Donetsk looks likely to join Borussia Dortmund, leaving Tottenham Hotspur and Liverpool disappointed.

The 24-year-old suited the profile of players both Premier League clubs seek to sign – young and with the potential to increase in value – even with a £20m price tag on him. While Liverpool’s pursuit of him has been well-chronicled, Spurs also made significant efforts to do a deal for the player.

Mkhitaryan is involved with the Italian-Dutch agent Mino Raiola, who also represents Martin Jol, Mario Balotelli and Zlatan Ibrahimovic. Spurs were unable to come to an agreement for the player, who is also keen on the Champions League football that Dortmund can offer. Mkhitaryan missed the start of a training camp this month with Shakhtar, who have already sold the Brazilians Fernandinho and Willian this summer.

Spurs’ deal to sign the Brazil international Paulinho for £17m is all but complete. The player will have a medical next week after the Confederations Cup final tomorrow and is expected to complete his move from Corinthians once it is complete.

Spurs will listen to offers for Tom Huddlestone, who is interesting Sunderland, Scott Parker, Jake Livermore and Benoît Assou-Ekotto.