Lookman spent time on loan at Fulham and Leicester City before he made a permanent move to Atalanta BC for a fee of around £13m in 2022.
Since arriving in Italy, the 26-year-old has enjoyed two impressive seasons, contributing to 50 goals in 78 appearances for La Dea, scoring 32 and setting up 18.
The Nigerian international also netted a superb hat-trick at the end of last season, earning his side a resounding 3-0 win over Bayer Leverkusen in the Europa League final.
Ademola Lookman to return to Merseyside this summer?
Following that eye-catching performance, Lookman has been linked with a return to the Premier League, and Calcio Mercato report that Liverpool are the latest club that are willing to make an offer for the former Toffee.
The report adds that if the Reds are to get a deal done for the 26-year-old, they will need to fend off the likes of Manchester United and Chelsea, who are also considering a move for the attacker.
Atalanta are believed to consider Lookman, along with Gianluca Scamacca and Charles De Ketelaere, as key players in the current squad, but are willing to listen to suitable offers for all three.
However, any deal for Lookman this summer is likely to hinge on the future of Teun Koopmeiners, as the club do not want to lose both players in quick succession.
It is understood that the Serie A outfit have set an asking price of £51m for the Nigerian international, whose current contract with La Dea runs for another two years.
Liverpool set for busy summer under Slot
Liverpool are expected to be busy this summer as they try and add to their firepower heading into the new season under new boss Arne Slot.
Additionally, the Reds may view Lookman as cover for potential departures, with Mohamed Salah and Luis Diaz linked with moves to the Saudi Pro League and La Liga, respectively.
Man United, on the other hand, are expected to sell Jadon Sancho and Mason Greenwood this summer, while Anthony Martial has already confirmed his exit as a free agent at the end of this month.
With Antony struggling to hit the heights the Red Devils had hoped, Lookman could be a solid option to bolster their attack, particularly in the wider areas.
United also have a good relationship with Atalanta, having agreed deals for Rasmus Hojlund and Amad Diallo from the Bergamo-based club in recent times.