The Croatian ace has emerged as one of Brendan Rodgers top targets heading into the January window, with scouts from the club having been watching him closely recent weeks.
Representatives from the Reds were present for Sevilla’s weekend clash with Villarreal – a game they lost 2-1 – and were believed to have been impressed with the 25-year-old’s showing.
Steven Gerrard’s recent injury problems have exposed a slight lack of depth in the Merseysiders’ midfield, an issue Rodgers is keen to rectify next month.
Rakitic has netted seven goals in 20 outings for his side this season, and has been elevated to one of their most influential players after host of sales over the summer.
Despite having raised a large amount of cash from allowing Jesus Navas, Alvaro Negredo, Gary Medel and Geoffrey Kondogbia, the La Liga side are still in a state of financial uncertainty.
They have been insistent that a large bid would be needed to lure Rakitic away from the Ramon Sanchez Pizjuan stadium, but privately it is thought that a bid of just £7m may be too good to turn down.
Liverpool are also keen on a new left-back and a striker to support Luis Suarez and Daniel Sturridge.