The 23-year-old spent the 2019/20 season on loan at then 2. Bundesliga side Stuttgart, helping them to earn promotion into the German top flight before returning to his parent club Liverpool last summer.
Phillips was on the cusp of joining Championship outlift Swansea in October on a permanent basis with Liverpool looking to cash in on his departure.
However, the centre-back remained in Jurgen Klopp’s side and has been increasingly involved in the first team this season owing to their injury woes at centre-back.
It has been suggested that Phillips’ contract at Anfield expires in the summer and he is set to become a free agent.
But the defender has further two years remaining on his current stint on Merseyside at the end of this season.
Phillips will not be available in the free agent market come the summer and any potential suitors eyeing snapping him up will a have to sit at the negotiating table with Liverpool.
It remains to be seen whether Phillips will see out his contract at Anfield or leave before his deal expires.
