According to the Sunday Mirror, the new Anfield
boss will attempt to make Taylor his first signing since taking
over, with a £5 million bid believed to be in the offing.
Early negotiations are already thought to have taken place between
Taylor's representatives and the Merseysiders.
With Newcastle having gained promotion back to the Premier League
this season, Taylor is believed to be waiting to hear future plans
from the Toon hierarchy before making a decision on his
future.
United have previously stated they do not intend to splash out
lavish amounts of money this summer, something that Taylor is
believed to be concerned about by their lack of ambition.
It's thought the 24-year-old defender would favor a move to
Liverpool, despite interest from several Premier League clubs
including Arsenal and Aston Villa.
Taylor has just one year left on his current deal and Newcastle may
be forced to listen to offers to avoid losing him for nothing next
summer.
The Magpies' youth product could begin pre-contract talks and agree
a deal with Liverpool in January should Newcastle fail to tie him
down.
It is also speculated that Hodgson is attempting to pry Brede
Hangeland from his former employers in a £7m bid.
Hodgson believes his close relationship with the Norwegian should
rush through a move and having taken Phillippe Senderos to Craven
Cottage before his departure, the Cottagers may be willing to
listen to offers.