The 37-year-old playmaker was all but set for a swansong at Australian A-League club Sydney FC, but a late approach from the Reds – who have only scored twice in three Premiership games – has thrown a spanner in the works.
However, Sydney FC CEO Tony Pignata is confident the deal for Del Piero will still go ahead.
“I am optimistic. He still hasn't signed, but he wants to. Between tonight and tomorrow we will settle the final details, it is a work in progress,” he told Sky Sport Italia. "Offers from England? Liverpool is a great club, but Australia is a big country."
Del Piero is a free agent after leaving Juventus at the end of last season.