The Argentine forward has emerged as one of his homeland’s top talents in recent times, and has already netted four goals in just six games in the 2016 Primera Division season.
His form has alerted Liverpool as they draw up plans ahead of the summer transfer window, but any deal for the 23-year-old will be complicated by issues surrounding his ownership.
As things stand River only hold 30% of Alario’s rights, but a an arrangement to double that figure is thought to be close to going through for £950,000.
His remaining 40% is owned by a third party investment group – common practice in South America – that’s holding out for around £4m.
Liverpool are hopeful of reaching a deal, with, in an ideal situation, River having purchased him outright ahead of a sale for almost £10m.