Schalke star Max Meyer is set to be available on a free transfer next month.
The Bundesliga outfit were unable to reach an agreement over a contract extension and he will be leaving as a free agent.
Liverpool have been linked with a move for the 22-year-old.
The Metro report that Reds boss Jurgen Klopp is keen on the young German who he is familiar with from his time in Germany.
Calciomercato meanwhile claim that AC Milan are ahead in the race.
Per the source, the rising star is demanding €4.5m per-season.
The Reds and AC Milan could face competition from Fenerbahce according to the Milliyet newspaper.
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Recently appointed Yellow Canaries manager Philip Cocu has made the midfielder a transfer priority.
Cocu is keen on making signings as early as possible for the pre-season in a race against time to implement sweeping changes ahead of the start of the next campaign.
Sporting director Damien Comolli has made an enquiry to Meyer’s representatives over a move.
The report claims that Meyer is demanding €5.5m per-season and that AC Milan cannot afford the player due to Financial Fair Play (FFP).
Fenerbahce want to negotiate a lower wage structure but would be prepared to include a sign-on fee.
The Yellow Canaries are also under pressure from FFP but are planning to offload several players in a squad overhaul which would reduce the wage bill.
Meyer scored one goal and provided a single assist for the German side this season.
