The German has been at Paris Saint-Germain for 18 months, however, Bayern are planning to make a move for the former Wolfsburg man should James Rodriguez return to Real Madrid from his loan spell.
Draxler, however, will be sticking with PSG for now but that could change as he is not given proper playing time under new manager Thomas Tuchel.
The German scored just 4 goals and provided 5 assists for the Ligue 1 giants last season and did not have the greatest of World Cups either as he was a part of the German team that got knocked out in the group stage.
Should the 24-year-old decide to quit French football, Liverpool would be waiting in the wings to swoop on the German attacker.
PSG have Draxler under contract until 2021 and it would not be easy to sign him from the French club, especially with Bayern also interested in the German.
However, Jurgen Klopp has built a fantastic attacking team and a number of players would be interested in joining in. Draxler is versatile and his creativity is certainly something we could use in our side.
It will be interesting to see how this goes about as we have been linked with Draxler earlier and if we can get this done, we will be one of the best-attacking units in the world of football.