When Alberto went back to Lazio in 2016, Reds chief Michael Edwards put in a clause that gives them 30% of the sell on fee.
The 27-year-old is in great form in Serie A and a summer move is possible.
He has 12 assists and four goals in 25 games.
But Italian reports are suggesting the player will be offered a mega deal by Lazio to stay put.
If he does not renew, the club want to sell him for £69 million, which would get Liverpool roughly £20 million.
But if he decides to stay at Lazio, the Reds would miss out on a significant injection of funds.
The player's agent Alvaro Torres recently spoke to Marca in Spain and said: "Last year [Alberto] was one of the best players in Serie A and this year he's the best.
"We're happy and speaking to him a lot and want to agree a [contract] renewal."