Adam Lallana is ready to leave Liverpool when his contract expires in June.
The 31-year-old, who signed from Southampton in July 2014, will be available on a free transfer and a series of clubs have already begun to register an interest, says the Daily Mail.
North London rivals Arsenal and Tottenham are each monitoring the situation, and are placed to make offers to the player's representatives.
Tottenham lost playmaker Christian Eriksen to Serie A giants Inter Milan in January, while Arsenal boss Mikel Arteta is on the lookout for ball-playing midfielders as he attempts to bring a possession-based style back to the Emirates.
Leicester City are also watching the player, with manager Brendan Rodgers keen to add to his midfield ranks.