That’s according to Kaveh Solhekol who was giving a transfer update on Sky Sports News.
Sanches is not happy with his lack of playing time at the Allianz Arena and could move before Thursday’s transfer deadline.
Chelsea are also interested in the 20-year-old Portugal international.
TRANSFER NEWS LIVE: All the latest gossip, rumours and done deals
Solhekol said on Sky Sports: “Some exciting news for Liverpool supporters reaching us from our colleagues at Sky in Italy.
“They’re reporting Liverpool are favourites to sign Renato Sanches on loan from Bayern Munich.
“The Portugal midfielder wants more game time and he’s frustrated in Germany after moving to Bayern for £27m in May last year.
“Chelsea and Monaco are some of the other clubs who are interested.
“Sanches’ agent Jorge Mendes was at the Monaco game last night but he’s also involved in the Mbappe deal.
“Sanches meanwhile didn’t play for Bayern on Saturday and they say he’d asked for time off to think about some offers.”
Philippe Coutinho has been linked with a move away from Liverpool to Barcelona in recent weeks.
And news has also emerged the Reds have tabled a bid for Arsenal target Thomas Lemar as they look to strengthen their squad even further.
