Bellingham is wanted by a host of clubs after impressing in a breakout season for the Blues.
The 16-year-old has been a crucial figure for Birmingham this campaign, having only missed five Championship games - playing 32 in total.
The Midlands club are aware that Bellingham is in high demand and have set a minimum price tag of £30m.
It was reported that Manchester United tried to do a deal in the January transfer window but couldn't find an agreement.
The Reds are understood to have first taken interest in Bellingham after he scored a long-range effort against their youth team.
But with a Liverpool team already full to the brim of both established and emerging talent, it may prove harder to convince the youngster.
Borussia Dortmund, on the other hand, have the advantage of showcasing the career of Jadon Sancho who also made the decision to ditch England in favour of Germany.
The Red Devils hope that the influence of Ferguson can be a deciding factor in them winning the battle of persuasion.
Ferguson is reported to have met Bellingham and his family at United's training complex in Carrington on Monday.
The managerial icon has a good track record in convincing players to join the club, including Eric Cantona, Wayne Rooney and Cristiano Ronaldo.
United are also showing signs of placing more faith in their young players, with players like Scott McTominay and Brandon Williams now first-teamers under Ole Gunnar Solskjaer.
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