Tottenham have made contact with Liverpool over a fee, though no formal bid had been submitted as of Friday, according to Voetbal International, with other Dutch outlets citing an opening offer worth around €70m (£60m) that Liverpool are expected to consider too low.
Gakpo, who has a contract at Anfield running until the summer of 2030, is understood to have already agreed personal terms with Tottenham, leaving the fee as the final obstacle before a deal can be completed.
Manager Roberto De Zerbi has long admired the Netherlands international and is keen to work with him regardless of whether Tottenham also complete a separate move for Manchester City winger Savinho, with the two pursuits not linked. All parties are said to be confident of a positive outcome, which would end Gakpo's three-and-a-half years on Merseyside.
Since joining from PSV Eindhoven in January 2023, Gakpo has made 180 appearances for Liverpool, scoring 50 goals and adding 23 assists, and played a part in the club's Carabao Cup win in 2024 and Premier League title the following year, when his ten league goals were a career best at the club. He also represented the Netherlands at this year's World Cup.
His path to regular football has narrowed this summer with the emergence of Rio Ngumoha on the left and Liverpool's parallel pursuit of Bradley Barcola as further competition for attacking places, with head coach Andoni Iraola looking to freshen up his options across the front line.
PSV retain an interest in the size of any eventual fee: the Eindhoven club are due 10% of any profit Liverpool make on Gakpo's sale, plus a further 5% in training compensation, having developed him between the ages of 12 and 23.
That clause means PSV would benefit more from a fee closer to Liverpool's original €85m valuation than from Tottenham's opening offer, giving the Dutch club a vested interest in how hard Liverpool push back during negotiations.
Tottenham have already spent more than €265m strengthening their squad this summer, including deals for Jan Paul van Hecke and Sandro Tonali, underlining the scale of investment behind De Zerbi's rebuild as he looks to add proven Premier League quality to his forward line before the window closes.