Liverpool are prepared to offer forward Iago Aspas to Sevilla in a bid to revive a deal for full-back Alberto Moreno.
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Manager Brendan Rodgers' hopes of signing Moreno have stalled because the two clubs have been unable to agree a fee.
Sevilla sporting director Monchi suggested last month that any prospect of a deal was finished.
But the Reds -- who value the left-back at 16 million pounds -- remain interested if a compromise can be found, sources have told ESPN FC.
Sevilla are seeking 20 million pounds, but Liverpool are not prepared to go that high for the 22-year-old, who has played three times for Spain but missed out on their final 2014 World Cup squad.
Offering Aspas in part-exchange is seen as a way of reducing the fee if Sevilla are open to the move.
The 26-year-old Spanish striker is available for transfer after failing to make an impact on Merseyside following his 7.7 million pounds move from Celta Vigo in 2013.
He made just five Premier League starts last season, with his only goal for the club coming in a 2-0 FA Cup third-round win over Oldham on Jan. 4.
Rodgers has made strengthening his defence a priority as he bids to build on the achievements of last season, when Liverpool finished second in the Premier League.
He is keen to sign a left-back despite the return to fitness of Jose Enrique, who missed the final six months of last season with a knee problem.
A move for Chelsea's Ryan Bertrand is a possibility, but Moreno is the preferred option for Rodgers if a deal can be done.