Thiago Alcantara has reportedly decided against renewing his contract at Bayern Munich and could leave the German giants as early as this summer.Reports from Germany claim that Thiago, whose contract expires in 2021, believes this summer represents his final chance to join another top club.This information comes courtesy of German outlet Spox - per Goal.com - and it’s understood that Bayern may be prepared to cash-in on Thiago before he becomes a free agent next summer.Bayern, who were crowned Bundesliga champions for the eighth successive season earlier this month, would reportedly demand a fee in the region of €50 million for the technically-gifted midfielder.But where is Thiago likely to end up if, indeed, he does leave the Allianz Arena this summer?Well, Goal.com’s report sensationally claims that Liverpool are considering a summer bid for the midfielder.And Christian Falk, head of football at German newspaper Bild, says there are rumours inside the Bayern Munich camp that Thiago wants to join the reigning European champions.p1ebimehqe19emkjv1psfens2j79.jpgIt’s claimed that Liverpool, along with Barcelona, are one of two potential candidates to sign Thiago.Jurgen Klopp, meanwhile, is understood to be a keen admirer of the former Barça midfielder.

Let’s check out some of the early reaction to this surprise news on social media…

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The acquisition of Thiago would be a huge coup for Liverpool if these latest reports are accurate.

A player with bags of ability and experience, the 29-year-old Spain international would improve any team in the world.

Bayern, though, will be desperately hoping to convince Thiago - who is the son of the 1994 World Cup-winning Brazilian Mazinho - to stay put and extend his current deal.

Replacing their current No. 6 with a midfielder of similar quality would be a far from straightforward task - especially as Thiago seems to have sprung this news on his employers.

It will be fascinating to see what happens next. Watch this space.