The Mirror report Steven Gerrard's side were keen on the defender, who played 45 times for the Tangerines last season.
Tilt was absent from Blackpool's opening League One game against Wycombe Wanderers at the weekend, with manager Gary Bowyer attributing transfer speculation.
Blackpool drew the game 0-0, with Tilt left out of the matchday squad.
He said: "It’s human nature, it takes a lot out of you mentally. When you’re being linked constantly and there’s been negotiations toing and froing, from what I understand, he just looked a bit mentally drained from it all.
"You can’t be that going into today’s game. He’s been no problem, and I understand his situation, but I had to make a call for the good of the team."
Bowyer did not clarify whether he considers the transfer speculation over and done with, or when he expects Tilt to return.
Their clean sheet without Tilt was impressive and if the right fee comes in, perhaps Blackpool have been left more willing to sell after seeing what they are capable without him.