Given a "boost" by Liverpool when Real Madrid's transfer policy becomes known.
The 19-year-old England international has been linked to the Reds for a while. However, a number of other elite European teams are also reportedly interested in signing Bellingham, who is presently with the Three Lions team in Qatar.
One of those teams is Real Madrid, who in the summer signed France international Aurelien Tchouameni ahead of Liverpool and are eager to do the same with Bellingham.
They add that Bellingham is Madrid's "goal," saying: "In England, it is assumed that Liverpool has him on contract for 100 million euros, but Real Madrid maintains that this is not the case and that the player is free to choose his destination. The football player's entourage confirms that he wants to play for the Whites, but unlike Liverpool's entourage, there is little evidence to support the optimism that both teams have about signing him. It is evident that Madrid would not agree to Borussia's 150 million euro demand."
Bellingham, who is expected to be a star of the World Cup, is reportedly a major follower of Jurgen Klopp.
He will be hoping that if Madrid's transfer position turns out to be accurate, it might allow Liverpool to win the World Cup for England.
It is widely anticipated that the kid will depart Dortmund next summer, with teams like Chelsea, Manchester City, and Manchester United also thought to be in the running for his services.
However, it seems that Liverpool, Madrid, or any other suitors of Bellingham will have to fork for a sizable sum of money. The Reds' transfer record would be broken by a fee of 150 million (130 million).
The player's representatives will seek "solid offers" before he decides on his future, according to a story from earlier this week.
Dortmund's CEO, Hans-Joachim Watzke, recently said: "We don't have to act as if the matter isn't a concern. We cannot afford to engage in a financial battle if the really big clubs are involved."