101 Great Goals provides news that respected Italian journalist Gianluca Di Marzio claims the Anfield club have begun negotiations to bring the 22-year-old to the Premier League.
Di Marzio tweeted:
Shaqiri has struggled to force his way into the Bayern first-team picture under Pep Guardiola, and it seems he may well be surplus to the manager's requirements.
Sky Sport24 Italia sportswriter Fabrizio Romano also confirmed his belief that the Reds are in for Shaqiri and that the process to capture his signature is ongoing.
Shaqiri managed to make 20 appearances for the Bavarian giants last season in the Bundesliga and Champions league, per WhoScored.com, but only started in half of those games, scoring on six occasions and providing two assists.
The Switzerland international is a truly diverse attacker, able to play on both sides of the pitch and behind the striker.
He would fit perfectly with Luis Suarez, Daniel Sturridge and Raheem Sterling, making Liverpool's forward line even more dynamic and potent than it was last season.
In recent weeks, Shaqiri has spoken of his disappointment at the lack of opportunity afforded to him at Bayern and that he would consider a transfer away from the club.
Alex Harris of the Express reported that the attacker said to 20 Minuten:
We'll see. I'm not going to go through another year like this. If not much changes, then I will have to change something. I am only disappointed because I have played less.
I am young and need to develop myself. I want to play in the big games from the beginning, and not just in the league when everything is already clear.
I want to play at a top club as the Champions League is important to me.
Liverpool would have found it incredibly difficult to land a player such as Shaqiri in years gone by without the promise of Champions League football, but now they have the carrot to tempt the very best players.
Shaqiri is a skilful individual, and if Brendan Rodgers gets the most out of him, as he has done with Sturridge since his arrival, Liverpool fans will fall in love with him.
He has the ability to beat players and score goals, and Rodgers' attacking philosophy suits his style of play.
However, even though Shaqiri is a player of great talent, it is the defensive areas Liverpool must address in this transfer window.
Despite coming second in the Premier League, Liverpool conceded 50 goals, per BBC Sport. This is an unacceptable figure moving forward.
If Liverpool had an adequate defence last season, they would have won the league. So it is Rodgers' task to address this area as soon as possible. As long as Shaqiri's capture does not affect this, he will be a welcomed addition.