Kenny Dalglish is aiming to bolster his back-four with the signing of Phil Jones and Gary Cahill, reports the Daily Star and the Daily Mirror.
With Jamie Carragher reaching the twilight of his career, the club are keen to recruit some young blood the help see in a new era under Fenway Sports.
And Liverpool are reportedly plotting a £30 million swoop to take away Rovers' Jones and Bolton's Cahill.
Manchester United, Arsenal, Chelsea and Tottenham Hotspur are also being linked with the pair, but Liverpool are reportedly the front runners for the duo.
Jones has broken through into the Blackburn side, and despite seeing injury affect his progress for some of the season, he's attracted enough attention to earn recognition from the England under-21 set up.
Cahill, a full international with England, is destined to leave Bolton this summer, but as yet his destination hasn't been confirmed with the Premier League's top dogs, including Liverpool, circling around the £15 million rated man.
The Rovers defender Jones is expected to cost in the region of £15 million, but could be allowed to leave for less if the club are relegated this summer.
However with United, Arsenal, Chelsea and Tottenham all potentially able to offer Champions League football, The Reds may yet be put on the back foot.
While United, Arsenal and Chelsea are all guaranteed to qualify, Spurs are on the brink of only making the Europa League after drawing with West Bromwich Albion last weekend.