Sky Sports sources understand Craig Bellamy has been given permission to leave Wales' training camp to travel to Liverpool to discuss a return to Anfield.
Bellamy had been preparing for Friday's Euro 2012 qualifier against Montenegro at the Cardiff City Stadium with the rest of Gary Speed's squad.
A late transfer before Wednesday night's deadline always appeared possible, with Bellamy a long way down the pecking order at Manchester City and not in Roberto Mancini's plans for this season.
A number of clubs were keeping tabs on his situation and Queens Park Rangers and Stoke appeared to be leading the chase for his signature.
However, it is now thought that Bellamy could end up making a surprise move back to Anfield after two-and-a-half years at City.
The Football Association of Wales is understood to have allowed the striker to make his way from Wales to Merseyside for talks and a medical.
Bellamy spent the 2006/7 campaign with Liverpool under Rafa Benitez, before leaving for West Ham.