Mino Raiola will hold talks with the Italian club over a potential deal for his client, with the club expected to offer Dortmund a fee in the coming days.
Brendan Rodgers has been tracking Mkhitaryan ever since the winger chose Dortmund over Anfield, but it is believed Liverpool will not challenge the Old Lady in their attempts to sign the Armenian.
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talkSPORT, via Sky Italia, are reporting the Champions League finalist will offer his current club £14 million, which will be rejected by the German outfit.
However, Juventus have the financial power to match Dortmund's asking price for the 26-year-old.
LIVERPOOL CAN'T COMPETE
Following the big money signings of Roberto Firmino and Christian Benteke in the attacking areas, it would seem extremely unlikely Liverpool will compete for Mkhitaryan's signature.
It is unlikely the Merseyside club have the financial power to compete with Juventus should it turn in to a head-to-head bidding war, and the lure of Champions League seems to tip the scales even further in Juventus' favour.
RODGERS HAS OPTIONS
It would not be too big a loss for the Anfield club if they were to miss out on Mkhitaryan, as Brendan Rodgers has a number of players capable of occupying the attacking midfield and wide positions.
Jordan Ibe looks set to have a breakthrough season at Anfield having started the opening two matches, while the left wing position looks to be a straight shoot-out between Adam Lallana and Roberto Firmino.
The Brazilian is slowly being introduced to the Premier League by Rodgers, however Lallana has failed to impress in the opening two games of the new season.