Manager Brendan Rodgers has made Benzema his top transfer target for January for his side who are looking for a new world-class striker.
And despite Madrid publicly ruling out a move for 26-year-old Benzema and confirming a stay at the Santiago Bernabeu for the Frenchman, Liverpool believe that they will be able to land Benzema if they offer £38.8 million on the table for the striker.
It is said that Real Madrid are already looking for a replacement and Liverpool are set to make space for the move by letting go of Rickie Lambert.
By Ollie Carroll
Twitter: @Ollie_Carroll_