The 28-year-old spent six years at Chelsea between 2006 and 2012, but fell out of favour in his last season at the club and was allowed to leave for Ligue 1 on a free transfer.
However, while Kalou's return to England could represent a cut-price opportunity for some clubs, Brendan Rodgers' side should steer clear and instead divert their attention—and funds—toward a more appropriate asset.
The Mirror alleges that the Ivory Coast international could be picked up for as little as £2.5 million, saying:
Last season, Kalou had an impressive maiden campaign in the French top flight, scoring 14 goals and making five assists for Rudi Garcia's team, per Transfermarkt.co.uk.
As WhoScored.com showed at the time, this was the player's brightest patch in front of goal for some time:
However, despite being handed equal prominence within the squad under Rene Girard, the attacker has quickly gone off the boil this term.
One would have to think Kalou's drop in standards is at least part of the reason that Lille are so willing to sell off their asset. He is therefore a player currently in decline, making him a gamble for prospective employers.
Although Rodgers' side are in need of more experience in attack and—more specifically—on the wings, it's important that the Liverpool boss perseveres with his current policy of purchasing young players who are already of a quality that ensures their influence on the squad will be felt.
The 2013 acquisitions of Daniel Sturridge and Philippe Coutinho are perfect examples of this strategy working to good effect, while the coup of 23-year-old Mamadou Sakho would fit into the same bracket.
Kalou has operated mainly as a striker at Stade Pierre-Mauroy, the position he at times struggled to hold down at Stamford Bridge. He would likely find his path similarly obstructed by Sturridge and Luis Suarez at Anfield.
It's unlikely that the forward would be completely comfortable with the idea of riding the bench, considering his next move, at the age of 28, may be his last.
Kalou would therefore be left settling for a spot out wide once again, but even then one might argue that the Ivorian wouldn't be much of an upgrade to the squad, which would be better served giving Raheem Sterling his chances in the first team.
Though it may be Premier League football that Kalou seeks, Liverpool shouldn't be the ones to give it to him.
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