Liverpool have reportedly been back in contact with Borussia Dortmund to discuss a possible deal for Jude Bellingham during the summer of 2024.
The Reds, at one stage, had been the favourites to sign the England international in the upcoming market before dropping their interest due to the cost of a deal.
Real Madrid are now seemingly in pole position for the former Birmingham City youngster, although it remains to be seen whether the European and Spanish champions are prepared to meet Dortmund's asking price, which is believed to be comfortably in excess of £100m.
There is a chance that Bellingham could stay at Dortmund for the 2023-24 campaign before moving after representing England in next summer's European Championship.
According to Football Insider, Liverpool have now reignited their interest in the midfielder, making contact with BVB to discuss a possible deal next summer.
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The 19-year-old has been in impressive form for Dortmund during the 2022-23 campaign, scoring 11 goals and registering seven assists in 40 appearances in all competitions.
BVB also have no immediate panic when it comes to the youngster's future, as his contract with the German giants is due to run until the summer of 2025.
Liverpool are preparing to overhaul their midfield during the upcoming market, with Naby Keita and Alex Oxlade-Chamberlain preparing to depart on free transfers, while James Milner also only has a contract until the end of June.
The Reds allegedly decided against a big-money move for Bellingham in the upcoming market in favour of targeting two or three midfielders due to their need for numbers in that area of the field.
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Real Madrid will reportedly meet with representatives of the teenager next week in order to discuss a move to Bernabeu in the upcoming market.
However, Los Blancos are currently well-stocked in central midfield, with Toni Kroos and Luka Modric both expected to sign new one-year contracts.
Meanwhile, Eduardo Camavinga, Aurelien Tchouameni and Federico Valverde are also vital players for the Spanish and European champions.
Bellingham was heavily linked with Manchester United when it became clear that he would be leaving Birmingham in 2020, but he ultimately opted to make the move to Germany.
The midfielder has featured on 130 occasions for Dortmund in all competitions, contributing 21 goals and 25 assists in the process, including nine goals and 16 assists in 90 Bundesliga appearances.