Dembele, 18, has emerged as one of French football's top young players this season, smashing 12 goals and five assists for Rennes.
With great pace and every trick in the book, the young winger has unsurprisingly attracted huge interest from some of Europe's biggest clubs, with a major battle on for this signature this summer.
Now, The Guardian report that the race could be down to just two teams; Borussia Dortmund and Liverpool, who are of course managed by former Dortmund boss Jurgen Klopp.
The report claims that Dembele has actually spoken to Liverpool boss Klopp on the phone this week, and was left impressed by the German's plans for the Anfield side.
That puts the Reds right in contention to snatch Dembele ahead of Dortmund, with a deal worth around £28m believed to be in the pipeline for either club this summer, whilst it would also demonstrate just how much pulling power the ever-popular Klopp really has.
Splashing such a huge amount on a teenage wonderkid may be seen as a huge risk, but Dembele has already shown that, if he continues to develop, he could become one of the most dangerous attacking players in the world - and Klopp may be the perfect man to help him fulfil his potential.
Would you like to see Liverpool splash £28m on Dembele?