The 20-year-old is regarded as one of the best young forwards in Germany. He is enjoying a top season with Salzburg, bagging 18 goals and four assists in 28 appearances.
The youngster has been tipped to leave the Austrian champions in the summer, and it has been widely speculated that he could replace Erling Braut Haaland at Borussia Dortmund.
Dortmund have already initiated talks with Salzburg, but Bild claims that the Reds are still in the race to sign the marksman, who made his senior Germany debut in September last year.
The Reds spent an initial fee of around €45 million to sign Luis Diaz from Porto last month. Tottenham Hotspur were favourites to sign him before the Merseyside giants hijacked the deal.
It is clear that the Premier League outfit have funds to spend when required, but the big question lies whether they can assure Adeyemi with regular first-team football next season.
As things stand, it may not be the case. Diogo Jota and Roberto Firmino have been the regular striker options for the Reds, with Divock Origi and Takumi Minamino acting as back-up.
There are doubts surrounding the future of Firmino whose contract expires in less than 17 months. The same is true with their regular wide attackers in Sadio Mane and Mohamed Salah.
The club are unlikely to break their wage structure for any of them, and there could potentially be an exit. Firmino, who is no longer an assured starter up front, appears the most likely candidate to leave.
This could open up a spot for Adeyemi in the squad, but the German would still want the guarantee of regular league starts to boost his international selection prospects ahead of the World Cup.
Considering this, Dortmund are in pole position to land his services this summer, but the scenario could change. Aside from Liverpool, there could be further interest from other elite European clubs.