The 29-year-old striker has been impressive in recent weeks with four goals in his last four top flight outings, but the Frenchman has now entered the final 18 months of his contract at the Emirates.
Despite playing a key role for the Reds since moving to Anfield in 2017, the Egyptian recently refused to rule out a move to either Madrid or Barcelona.
He still has two-and-a-half years left to run on his contract, though, and manager Jurgen Klopp has insisted that he remains relaxed over his future despite the ongoing rumours.
The former Paris Saint-Germain striker Edinson Cavani is reportedly on the radar of Real Madrid.
The 33-year-old forward was used as a bit-part player for the majority of the last campaign, scoring four goals in 14 appearances in the French top flight.
The Uruguay international is now a free agent having recently seen his contract with PSG expire, and the attacker is expected to be a man in demand during the current market.
Paris Saint-Germain are weighing up a summer move for Real Madrid left-back Sergio Reguilon, according to RMC Sport via Daily Mail.
The former Spain Under-21 international chalked up 22 appearances for Los Blancos during the 2018-19 campaign but joined Sevilla on loan last summer and has made 25 appearances for Los Nervionenses this term.
Real Madrid are reportedly ready to lock horns with Arsenal, Tottenham Hotspur and Barcelona for the signature of RB Leipzig youngster Dayot Upamecano.
The 21-year-old defender, who is said to have a £55m release clause in his current contract, could allegedly hand in a transfer request in a bid to force an exit at the end of the season.