The Reds have been linked with Bellingham by several sources this summer. However, the Mirror reported that Jurgen Klopp's side could look to sign the Englishman next summer.
The report added that Dortmund may also be unwilling to let Bellingham depart, having lost Erling Haaland to Manchester City.
The Reds could therefore rely on their current midfield options for the 2022-23 campaign as well. It is worth noting, however, that club captain Jordan Henderson and Thiago Alcantara are both on the wrong side of their 30s. Henderson is 32 while Alcantara is 31.
McLeish, who managed Birmingham City and Aston Villa in the Premier League, believes Liverpool could announce Bellingham's arrival without much prior notice. He told Football Insider:
"We are speculating on Bellingham, the smart money is on Liverpool. The thing is, we will just see on the day whether it is Bellingham who arrives on the day. That's how they operate."
The former Rangers manager continued:
"The way Liverpool do their business, they don't public about anything. That's the way transfer should be done. We always tried to do that."
Bellingham joined Borussia Dortmund from Birmingham City in the summer of 2020. He has since made 89 appearances for the Bundesliga outfit, scoring 10 goals and providing 18 assists.
The 19-year-old has also lifted one major title with the club, winning the 2020-21 DFB Pokal.
Liverpool have been active in the transfer window this summer
Klopp's side completed three major signings in the first month of this summer's transfer window. The headline arrival at Anfield was Uruguayan forward Darwin Nunez, who joined on a club-record £85 million fee from SL Benfica.
The Reds have also brought in winger Fabio Carvalho from Fulham as well as right-back Calvin Ramsay from Aberdeen.
They have also tied down Mohamed Salah to a three-year extension while making him the highest-paid player in the club's history (as per The Guardian).
Their only notable outgoings have been Sadio Mane, who joined Bayern Munich, and Takumi Minamino, who switched over to AS Monaco.
The Reds could still make more signings before the transfer window shuts. As per Sport, they are interested in Real Madrid forward Marco Asensio.
The reigning FA Cup champions have also been linked with Nicolo Barella and Adrian Rabiot, among others (according to Sky Sports).
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