The 24-year-old emerged as an unlikely hero for Liverpool in the recently concluded season as Jurgen Klopp’s side faced an injury crisis at the back.
Phillips established himself as a fan favourite at Anfield after helping the Reds to a third place finish in the Premier League in the absence of Virgil van Dijk, Joe Gomez and Joel Matip.
However, the central defender’s Liverpool story could be nearing an end, with the Merseyside-based club prepared to cash in on him this summer, amidst interest from Burnley and Newcastle.
Magpies boss Steve Bruce has identified Phillips as an ideal candidate to bolster his defence ahead of the new season and is set to make a formal move for the player.
Liverpool could allow the centre-back to leave for around £10m, a sum that Bruce can afford, having seen Mike Ashley allot him a £50m transfer war chest.
However, the Tyneside-based club could face competition from Burnley for Phillips’ signature.
The Clarets are said to have failed in their attempt to sign Phillips on loan and could now look to buy him instead.