Aquilani joined the Reds in a £20million move for Roma last summer but has failed to make an impact at Anfield.
The Daily Mirror reports that Liverpool are aware they may be forced to sell Aquilani for as little as £7million.
Liverpool are desperate to get Aquilani’s wages, in excess of £70,000-a-week, of their wage bill.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.