The 24-year-old is currently on a season-long loan at Valencia from Inter Milan.
Despite getting regular appearances in the past two seasons at the San Siro, it appears he has no future at the club.
Since arriving at Valencia, Kondogbia has impressed in La Liga.
The former Sevilla and Monaco midfielder is back to his best form.
And Valencia have the option to sign the France international permanently at the end of the campaign for £22m.
However, if they opt against the deal, Tuttomercatoweb suggest Liverpool and Spurs could swoop.
The Premier League clubs are watching on and monitoring Kondogbia’s progress at Valencia.
With a four-year contract potentially awaiting him, Valencia are likely to buy him based on his performances so far.
But the Reds or Tottenham could pounce if the Spaniards decide against a move.
Kondogbia’s displays have not gone unnoticed at Anfield or Wembley.
Mauricio Pochettino is keen to strengthen his midfield options, with Ross Barkley being lined up for a January arrival from Everton.
Meanwhile, Jurgen Klopp may need a replacement for Juventus target Emre Can should he reject the chance to sign a new deal.
Kondogbia, 24, is a big outsider for a spot in France's World Cup squad but will be keen to prove he's up to the task with his domestic form this term.
