The Daily Mirror is quoting an unnamed Spanish source as claiming that the Reds are ready to rival the Red Devils in the race to sign the 30-year-old from FC Barcleona.
According to the same story, Rakitic has long been a target for Manchester United manager Jose Mourinho as he looks to bolster his midfield options.
However, it is now being suggested that Liverpool FC are also expressing a strong interest in signing the Croatia international this summer.
Liverpool FC are expected to be on the lookout for midfield reinforcements this summer after the sale of Philippe Coutinho to FC Barcelona back in January.
And the Reds are also expected to lose midfielder Emre Can on a free transfer at the end of the season when his current contract expires.
Rakitic has been in decent form for FC Barcelona this season, scoring one goal and making four assists in 27 La Liga games for the Spanish giants.
Liverpool FC were beaten 2-1 by Manchester United in the Premier League at Old Trafford on Saturday, with Marcus Rashford scoring twice in the first half.
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