The former Sporting Gijon goal-getter - who netted 28 league goals last season and already has six in 2009/10 - was strongly linked with moves to Real Madrid, Barcelona, Liverpool, Manchester United and Chelsea earlier this summer.
However, a transfer failed to materialise, with the Euro 2008 Golden Boot winner content to stay in Spain and challenge for honours with Los Che again.
But, according to the Sunday People, Reds' boss Rafa Benitez remains keen on recruiting the Spanish international in order to reunite him with international strike-partner Fernando Torres on Merseyside.
And the report claims that an offer of €49 million will be enough to persuade Valencia to part company with their prize asset during the winter transfer window.
Talk of the striker departing the Mestalla intensfied last week, after the forward lashed out at his own team for throwing away two points at home to 10-man Sporting Gijon in a 2-2 draw.
Valencia then drew 2-2 again this weekend, conceding a last-gasp equaliser against Atletico Madrid.
"The approach after the second goal wasn't right," he said.
"We had chances but in the end, that's what happens.
"If we continue, we will be like last year. If we relax and draw against teams with 10 men, we won't go anywhere."
