The Borussia Dortmund forward has fallen out of favour in Germany and is set for a move to either Guenghzou Evergrande or Beijing Guoan.
It is said that the two Chinese outfits have both launched bids to Dortmund but they have yet to agree on a figure.
And Liverpool are hoping to steal in late after they lost Philippe Coutinho to Barcelona over the weekend.
The Brazilian was sold for a British record £142million but now the Reds want to splash the cash to bring in his replacement.
However, according to French publication Le10Sport, Real Madrid are also considering making a move.
Despite Liverpool recently coming into money they would still not be able to financially compete with Zinedine Zidane’s side.
Real Madrid are supposedly keen to replace misfiring forward Karim Benzema.
And they are also looking at other targets which includes Liverpool’s Mohamed Salah.
Jurgen Klopp is a big fan of Aubameyang and he managed him for two years at the Westfalenstadion.
However, the Reds have also been linked with Leicester’s Riyad Mahrez and Thomas Lemar, of Monaco.