The Switzerland international has been strongly linked with the Reds in recent weeks amid talk that he has grown frustrated with his role at the Allianz Arena.
Liverpool were keen on him during January, but they ultimately saw their tentative approaches knocked back as the player himself fought to establish himself in Pep Guardiola’s plans.
But after failing to cement regular action over the latter half of 2013/14, the 22-year-old has stated that he is ready to leave, with England a favourable destination.
The Merseysiders look to be the most likely suitors, with Brendan Rodgers having the required £15m-£20m to push through a swoop and Champions League football guaranteed – which is known to be a big factor for the youngster.
Shaqiri has long been seen as one of Europe’s top emerging wide attacking players, but his development has stalled somewhat since his 2012 move from Basel to Bayern due to a lack of playing time.
Liverpool were thought to have made Adam Lallana of Southampton their top midfield target, but with the Saints holding out for £30m, the World Cup-bound Swiss ace is being touted as a cost-effective alternative.