Liverpool could reportedly move for Espanyol centre-back Leandro Cabrera this summer.
Lovren's exit would likely force Liverpool into the market for a replacement, and according to the Liverpool Echo, Cabrera could be an option for the European champions.
The 28-year-old only swapped clubs in January as he left Getafe for Espanyol, but the Catalan outfit are bottom of La Liga and facing relegation to the second tier.
Cabrera could allegedly be available for as little as €15m (£13.3m) during this summer's transfer window, meaning that the Reds would not have to commit to a large financial outlay.
The former Uruguay Under-20 international has previously played for Atletico Madrid and Real Madrid Castilla.