Report: Liverpool hope to agree to free transfer of James Milner this week

Liverpool are reportedly ready to pounce as James Milner's contract nears its expiration date.

The Merseyside club hope to agree to the free transfer of Milner this week, according to Andy Hunter from the Guardian. The versatile 29-year-old will become a free agent July 1 after turning down a four-year contract from Manchester City last summer that would have earned him up to £165,000 per week.

Tom Werner, Liverpool's chairman, and Mike Gordon, the president of Fenway Sports Group, are apparently due to conduct an end-of-season review in which the pursuit of Milner is one of the "key items" on the agenda.

However, Liverpool will reportedly face competition from City, Arsenal, and AS Roma in their bid in acquire Milner - three clubs that can offer Champions League football next season - and their hopes of acquiring him rest on the ability to offer a more prominent role.

Last season saw Milner register five goals and seven assists through 32 appearances, but his ability to seemingly feature at any position on the pitch - with the obvious exception of 'keeper - is what captured the attention of the Premier League community.

At Liverpool, the rarely-injured Milner would inevitably be viewed as something of a replacement for Steven Gerrard and would provide valuable flexibility to manager Brendan Rodgers, who will reportedly be back at Anfield next season despite his side's 6-1 defeat to Stoke City on the final matchday of last season.

Milner could potentially feature in a midfield trio rounded out by two of Jordan Henderson, Emre Can, and Lucas Leiva, or in a midfield quartet where he would be pushed out to the flanks to accommodate for Philippe Coutinho.

Of course, all the talk of how Milner can squeeze into Liverpool's starting XI is somewhat irrelevant until he's willing to sacrifice Champions League football for at least one season.