Salzburg sporting director Christoph Freund confirmed last week that the European champions were in discussions to sign the Japanese midfielder from the club.
Minamino starred in both UEFA Champions League group stage games against Jurgen Klopp’s men, scoring in the 4-3 defeat at Anfield to leave a lasting impression on the Liverpool boss.
It is believed that the 24-year-old has a release clause of just £7.25m and Liverpool are looking to strike early before potential suitors make their approach.
Salzburg have dropped down to the Europa League, where they will face German side Eintracht Frankfurt in the round of 32, after finishing third in their Champions League group that also contained Napoli and Genk.
Unlike in previous seasons, Minamino will be eligible to feature for Liverpool in the knockout stages of the Champions League if they are able to strike the deal.
Having featured for Salzburg in the group stages, Minamino would have been cup-tied if he were to sign for Liverpool but that rule has been scrapped by UEFA.
Minamino has been a revelation since joining Salzburg for less than £1m in 2015, forming a deadly attacking partnership with Hwang-Hee Chan and Erling Braut Haaland.
He has scored nine goals in 22 games across all competitions for Salzburg this season.
Minamino has won 22 caps for the Japan national team and has scored 11 goals.
