Ings is currently on the books of Burnley, but his contract with the Championship club runs out at the end of the month.
With the Clarets having suffered relegation from the Premier League at the end of the recently concluded 2014-15 season, the 22-year-old has been linked with a move away from Turf Moor this summer.
According to The Independent, both Liverpool and Tottenham Hotspur are interested in the services of the England Under-21 international.
Premier League rivals Manchester United and Newcastle United are also keen on securing the signature of Ings, claim The Chronicle.
Former Liverpool defender Lawrenson believes that the Merseyside outfit should take a chance with Ings and wrote in The Liverpool Echo: “I wouldn’t regard Ings as a gamble.
“He’s more of a punt, that’s the right word. If it comes off, then great. If it doesn’t then at least large money hasn’t been wasted.”
Ings scored 11 goals and created 35 chances in 35 Premier League appearances for Burnley in the 2014-15 campaign.
The striker had a pass accuracy of 71% and a shot accuracy of 43%, and won 25 headers, 57 dribbles and 27 tackles.