When the 28-year-old arrived from the latter in 2019 for £52.75m, the perception was that Liverpool had secured one of the signings of that particular summer.
However, while Keita has played a role in the Merseyside giants collecting silverware during his time at the club, only 49 starts have been made in the Premier League.
The Guinea international also missed the majority of the first half of this campaign and he has only completed 90 minutes on one occasion during 2022-23.
With his contract due to expire at the June and Liverpool in need of a midfield refresh, it has been heavily reported that Keita will be allowed to depart as a free agent.
Premier League clubs, while potentially attracted to being able to sign Keita with no fee involved, are deemed likely to steer clear of trying to negotiate terms for the player.
Nevertheless, according to Bild, Keita will not be short of offers from the Bundesliga over the coming months.
The report suggests that his former club are ready to rival Dortmund as they each bid to strengthen their respective midfields.
Leipzig have allegedly already secured the signature of Red Bull Salzburg's Nicolas Seiwald as a replacement for Konrad Laimer, who will move to Bayern Munich.
That said, Leipzig would seemingly jump at the opportunity to re-sign a player who contributed 17 goals and 15 assists from just 71 appearances for the club earlier in his career.
Meanwhile, Dortmund have alternatives in mind with Jude Bellingham being strongly linked with a departure and Mahmoud Dahoud leaving on a free transfer in the summer.
While Dortmund would have the funds to sign a higher-profile name should Bellingham exit the Westfalenstadion, Keita could be regarded as a like-for-like replacement for Dahoud.
Keita started Liverpool's last game, a goalless draw with Crystal Palace, but he is expected to drop down to the substitutes' bench versus Wolverhampton Wanderers on Wednesday night after lasting just 45 minutes at Selhurst Park.