Chelsea have reportedly emerged as shock suitors for Nunez who registered 40 goals and 26 assists in 143 games during his time at Liverpool.
The Uruguay international moved to the Saudi Pro League for around £46m last summer in what has been a failed move as he continues to find goals outside of Portugal where he thrived with Benfica.
Nunez was left out of the registered players list after the arrival of Karim Benzema from Al-Ittihad and reports claim he is unhappy at the club and is desperate to leave.
While a return to Liverpool is not currently on the table, Chelsea are said to be in the market for a forward this summer as reports link the West London side to Nunez who is said to be very interested in making his way back to Europe.
Newcastle are also said to be interested in the 26 year old as they seek to add to their attacking options which include Anthony Gordon who could depart plus Nick Woltemade and Yoane Wissa who have become failed signings.
The Magpies have struggled for goals this term following the sale of Alexander Isak last summer and Nunez could be an option heading into the summer, especially with him already having Premier League experience.