Jones is into the final 12 months of his current contract on Merseyside, but a long-running potential switch to Serie A champions Inter Milan has not materialised, amid a difference in valuations over the England international.
Previous updates from The Athletic claimed Inter’s second summer offer – in the region of €25M (£21.7M) - was rejected by Liverpool, as they value him at closer to £35M (€40M).
Inter have now reportedly run out of patience over a deal and will revisit the situation at the start of 2027 where they can negotiate for a free transfer.
That's viewed as the pragmatic approach by Inter and leaves Liverpool holding onto a player who is unlikely to sign a contract extension and his future remans unclear under new boss Andoni Iraola.
Rumours from the Liverpool Echo confirm Forest have reached out to Liverpool to assess their interest in a sale, but Jones wants European football, despite Liverpool's readiness to sell.
Jones is due back in preseason traning in the coming weeks - as part of the squad not at the 2026 FIFA World Cup - and Iraola will make a decision from that point.Reuters
Jones has made over 200 appearances for Liverpool after graduating through the club’s youth system, but he's failed to convince both Jurgen Klopp or Arne Slot over his reliability as a regular starter in the team.