Tottenham have already seen a £17million bid rejected for the Spanish striker, and are set to return with an improved £20million offer this week.
But Liverpool manager Brendan Rodgers has set his sights on Soldado as a possible replacement for Luis Suarez, and is said to be weighing up a £22million offer of his own.
The Spaniard is aware of the interest of both clubs, and is looking to hold talks with Valencia president Amadeo Salvo over the next 24-hours following his return from holiday.
Soldado is understood to have a £30million release clause in his current contract, with the La Liga side desperate to keep hold of their main man.
However, the cash strapped club are aware that an offer may arrive that proves too good to turn down, according to their Sporting Director Braulio Ortiz.
“We are sounding out the market because it’s necessary to have a ‘Plan B’ in this situation,” Ortiz said.
Soldado enjoyed another impressive La Liga campaign last season, scoring 24 league goals.
Tottenham have made the forward their top target after missing out on Christian Benteke and David Villa already this summer.
Valencia have set a deadline of August 3rd for any interested clubs to launch a bid, insisting there will be no sale after that date.
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