Liverpool will demand more than £25million for Dejan Lovren should AC Milan follow up interest in the defender.
Milan want a centre-back this summer and Frederic Massara, who is poised to become their new sporting director, admired Lovren while at Roma.
Lovren turns 30 in July but is under contract until 2021 and Liverpool believe their valuation is a fair reflection in the current market.
Liverpool will expect to receive more than £25million should they need to sell Dejan Lovren
Gennaro Gattuso's AC Milan are thought to be in the market for a centre-half this summer
Milan have still to firm up their interest but should a deal go through it would prompt Liverpool to look for a replacement.
They are still in the market for cover at left-back and want a versatile forward while a goalkeeper will be required should Simon Mignolet decide to leave.
Liverpool are also expecting loan requests for Ryan Kent and Harry Wilson.