The Bundesliga leaders signed the Colombian international on a two-year loan deal last summer, therefore Liverpool would have to rely on the possibility of Bayern ending the loan prematurely if they are to get a deal done this summer.
He has made 13 Bundesliga appearances so far this season and has contributed three goals, however, his place at Bayern isn’t secure. Jupp Heynckes is already looking at potential transfer targets for next season – the likes of Leon Goretzka and Joao Mario have both been linked with the club – which may threaten Rodriguez’s place in the side.
Should that be the case, the Reds look likely to be ready and waiting to come in for the former World Cup Golden Boot winner in an audacious transfer move.
In terms of a fee, Real are said to want to make up as much of the £70m they initially bought Rodriguez for from Monaco in 2014, however having only spent £70m of the £142m they received for Coutinho on Virgil van Dijk, Jurgen Klopp still has plenty of financial resources at his disposal.
Spirits around Anfield are high at the minute after an astonishing 4-3 win over Manchester Cityended the league leader’s unbeaten start to the Premier League season, and in doing so propelled Liverpool up to third place. Fans will be hoping Klopp can add further to his squad this window with the Champions League knockout phase and a Premier League title race ahead.