Hodgson will make Newcastle's Taylor his first signing

Liverpool manager Roy Hodgson has targeted Newcastle United centre-back Steven Taylor as the man around which to rebuild the Red's defence.

According to the Sunday Mirror, the new Anfield boss will attempt to make Taylor his first signing since taking over, with a £5 million bid believed to be in the offing.

Early negotiations are already thought to have taken place between Taylor's representatives and the Merseysiders.

With Newcastle having gained promotion back to the Premier League this season, Taylor is believed to be waiting to hear future plans from the Toon hierarchy before making a decision on his future.

United have previously stated they do not intend to splash out lavish amounts of money this summer, something that Taylor is believed to be concerned about by their lack of ambition.

It's thought the 24-year-old defender would favour a move to Liverpool, despite interest from several Premier League clubs including Arsenal and Aston Villa.

Taylor has just one year left on his current deal and Newcastle may be forced to listen to offers to avoid losing him for nothing next summer.

The Magpies' youth product could begin pre-contract talks and agree a deal with Liverpool in January should Newcastle fail to tie him down.

It is also speculated that Hodgson is attempting to prise Brede Hangeland from his former employers in a £7m bid.

Hodgson believes his close relationship with the Norwegian should rush through a move and having taken Phillippe Senderos to Craven Cottage before his departure, the Cottagers may be willing to listen to offers.

This story has been reproduced from today's media. It does not necessarily represent the position of Liverpool Football Club.