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Published 10:05 8 Jan 2016 GMT
Updated 13:21 8 Jan 2016 GMT
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Klopp and Gotze chat before the 2013 Champions League final.[/caption]
The 23-year-old, who scored Germany's World Cup winner in 2014, played under Klopp at Borussia Dortmund before he sealed a transfer to Bayern Munich.
The only stumbling block, according to the German newspaper, is that Liverpool would have to ferret out 10 million crisp €5 notes [or €50m] to secure Gotze's services.
But Bayern have reacted quickly and emphatically to the rumours.
https://twitter.com/TheAnfieldWrap/status/685445382743146496
Manchester United were publicly warned off Gotze last August but were reportedly offered him for €60m. They opted to splash €48m for Anthony Martial instead.
Gotze has scored five goals in 11 appearances for Bayern this season. He has only started five matches and may feel he needs regular football to earn a starting spot at Euro 2016.
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