The Reds appeared to have a free run at the Bayer Leverkusen star after Manchester City pulled out of negotiations and then Bayern Munich admitted defeat amid reports the player had rejected the German giants.
LIVE BLOG: All the latest summer transfer news and rumours
"Max Eberl [Bayern's sporting director] informed me that Florian Wirtz is probably leaning towards Liverpool, “ Bayern president Herbert Hainer told Munich publication Abendzeitung last week.
Any deal for Wirtz is expected to be the biggest this summer. The Leverkusen playmaker is expected to cost around £125milion - dwarfing the British transfer record fee of £115m Chelsea spent on Moises Caicedo.
Additional fees and wages across a lengthy contract are estimated to bring the total outlay for Wirtz is around £250m, and Liverpool and Leverkusen are this week expected to enter discussions.
But Real Madrid have other ideas.
According to Spanish publication AS, Madrid believe they can hijack Liverpool's efforts and lure the player to the Santiago Bernabeu, helped by head coach Xabi Alonso's move from Leverkusen to Madrid.
The Spanish giants believe Alonso is the ace up their sleeve to land Europe's hottest property. Alonso turned Wirtz into the continent's most in-demand player.
Transfer news LIVE! Arsenal book medical; Liverpool face Wirtz blow
Liverpool parade crash suspect is 'genuinely pleasant family man'
Discover sustainable luxury at this breathtaking rainforest retreat
The race, it appears, remains wide open.