Reina's future at Anfield is in doubt following the arrival of new manager Brendan Rodgers. It's understood Reina could be up for sale in January if he fails to convince Rodgers in the coming month.
Atletico, where Reina's father was a star, are keeping tabs on the situation as they seek a long-term No1.
Atletico have Chelsea keeper Thibaut Courtois between the posts this season, but accept his future lies with the Blues. The Madrid giants are convinced they can land Reina for an affordable price given his form problems this season in England.