The Mail on Sunday says Blackpool may be forced to sell captain Adam for only half the £12million they wanted in January.
Liverpool are unwilling to pay more than £6m for the 25-year-old, who was the subject of a bidding war between them and Spurs six months ago.
Blackpool's relegation has meant Adams' price has dropped, particularly as he only has a year left on his contract.
Liverpool have not registered a formal bid in this window and are prepared to be patient as they believe Adam would ideally like a move to Anfield. Aston Villa and Tottenham may also bid as the asking price drops.