Menez could be swayed by the possibility of European football next season as Milan have fallen short of securing it for another season and Liverpool look to have all but sealed Europa League football.
Menez would be another attacking option for the Reds as they look to bolster their frontline due to the injury to Daniel Sturridge that rules him out until September, and the lack of goals from attacking duo Rickie Lambert and Mario Balotelli, both of whom are linked with moves away this summer.
The 28-year-old winger is valued at £12.3 million by transfermarkt.co.uk and has been somewhat prolific this term for Milan, netting 16 times in 33 appearances in Serie A, and would be a healthy addition to a side that sees Steven Gerrard as their top goalscorer with just eight.
Liverpool seem to have acted quickly to establish a new target following their disappointing chase of Memphis Depay after the striker agreed to join Manchester United late last week.
But the Reds will face competition from AS Monaco for the French international’s signature if they are to secure his services.
Would Jeremy Menez be a good signing for Liverpool?