The Reds were set to sign the France international in the summer before the deal broke down at the eleventh hour following his medical.
Despite this sudden collapse, Liverpool have remained linked to the midfielder this January amid claims Jurgen Klopp could go back in for the Frenchman.
But according to Italian outlet CalcioMercato, The Reds will have to act quickly.
The publication claims that Tottenham have also become interested in Fekir in recent weeks and are looking to beat Liverpool to his signature.
This story has been reproduced from the media. It does not necessarily represent the position of Liverpool Football Club.