Traore has caught the eye of the European giants following his exploits for the Champions League-chasing Wolves this season.
There were reports in England claiming Liverpool and Jurgen Klopp made the winger a top priority, while Sportmediaset claim Juventus are now interested in the player.
It is being reported that the Serie A giants will offer goalkeeper Mattia Perin and defensive duo Daniele Rugani and Cristian Romero as part of the deal for the winger.
Wolves are reportedly asking for a fee around €80million for Traore, which ESPN claim Juventus are not willing to meet, which why a cash plus player deal could be their bargaining chip.
Former Reds star Stan Collymore feels Traore should be on Klopp's radar ahead of the 2020/2021 season.
"Liverpool should have two Wolves players on their shopping lists this summer – Raul Jimenez and Adama Traore," he told the Miror.
"Traore is the obvious one but Jimenez has settled into the Premier League like a duck to water.
"He's great in the box, attacks crosses exceptionally well, links play and is an all-round eight out of ten in the art of striking. He could provide real competition for Bobby Firmino at Anfield."