Liverpool reportedly want to sign Atletico Madrid defender Diego Godin as a replacement for Daniel Agger.
Agger's future at Liverpool is uncertain, with Barcelona and Manchester City both keen on signing the centre-back.
Liverpool manager Brendan Rodgers on Wednesday conceded he could sell the Denmark international this month should Manchester City match their valuation of the player.
City are understood to have recently failed with bids of £13million and £16m for Agger, and reports earlier this week suggested the Premier League champions were preparing to launch a third, improved bid worth around £20m.
And according to Goal.com, Rodgers is keen on signing Godin as a replacement for the 27-year-old should he leave Anfield before the transfer window closes.
Godin has been linked with a number of Premier League clubs over the past twelve months, and his agent has previously admitted to holding talks with the Merseysiders, in addition to Arsenal and Chelsea.
And although the Uruguay international last month insisted he was happy in the Spanish capital, according to Thursday's report, Atletico are ready to cash in on the 26-year-old to ease their financial problems.
Godin is valued at around £12million.
Speaking on Wednesday afternoon, Rodgers had insisted Agger would only be sold this month if his valuation was met.
"Top centre-halves are at a premium. Take Thiago Silva, he left AC Milan to go to Paris St Germain for £40m. So it has to be a big valuation," said the former Swansea boss.
"Daniel is one of the leading players in European football at centre-half. Is he a player I want to lose? No he's not. But like any club, if an offer comes in that is in the best interests of the club, of course you have to look at it.
"From a football perspective, do I want to lose Daniel Agger? Not really. He can be a really pivotal player for me, he understands how I want to work.
"But I am a realist. And the reality is that if a club comes in with a massive bid then the club may have to look at it. You can never say never."
Napoli and Real Madrid have also shown interest in Agger in recent weeks.