Atletico Madrid are shopping in the Premier League for next season.
The Daily Star says Pepe Reina has joined Manchester United star Javier Hernandez as a major summer transfer target for Atletico Madrid.
The 30-year-old Liverpool keeper has long been linked with a return to Spain.
The Reds have been looking at Birmingham's Jack Butland as a long-term successor to Reina and could be tempted to let him leave.
Birmingham could be forced to sell Butland, who made his England debut in August, to deal with their financial problems.