The 22-year-old has caught the eye of several European heavyweights with his performances for RB Leipzig and is set to be a man in demand when the summer transfer window arrives.
Upamecano has a €42m release clause in his contract that will become active at the end of the current campaign and any potential suitors could trigger it to lure him away.
Bayern Munich are leading the race to land the defender, but they are wary of other clubs pushing into the mix and, according to German magazine Sport Bild, have asked Upamecano’s agents to let them know if sides move to meet the release clause.
Centre-back David Alaba is expected to leave the Allianz Arena in the summer and Jerome Boateng’s future at the club is still uncertain.
Upamecano is seen as a potential replacement for Alaba as Bayern Munich look to make sure they are well stocked for quality defenders.
Bayern Munich would like to try to sign Upamecano for a fee below his release clause, but will abandon plans to do so if another club come in to offer the clause amount.
Liverpool are suffering an injury crisis in central defence, but RB Leipzig do not want to sell Upamecano this month and his release clause fee does not apply.
However, the Reds failed to replace Dejan Lovren last summer and may now see the need for a fourth senior centre-back when the summer window opens.