Reds also want fee paid up in full rather than in instalments.
Championship outfit Blackburn Rovers are interested in signing unwanted Liverpool midfield player Jay Spearing this summer, reports the Daily Mirror.
The Englishman has been at Anfield for his whole career, with the 24-year-old having made his Reds debut in the 2008-09 season under previous Liverpool head coach Rafa Benitez.
And in the intervening five-year period the holding midfield player has appeared in 55 matches overall in all competitions for the Merseyside giants, including 30 matches in the Premier League, although Spearing is still to find the back of the net for Liverpool in that time.
However, with a contract on Merseyside that runs until June 30 2015, Liverpool are seeking a transfer fee of £3 million for the Englishman, a figure that Blackburn are reportedly unwilling to pay, with the Lancashire outfit understood to be hoping to land Spearing for a far smaller sum that would be paid via instalments as opposed to in one lump sum, which the Reds are demanding.