The Croatian midfielder has struggled to make an impression at White Hart Lane this season, and is rumoured to be exploring his options.
Kranjcar's father has confirmed his son will leave Spurs in January, saying "there is no point him sitting on the bench" and claiming the experience is "belittling him".
The 26-year-old arrived at Spurs for £2m last year and may be available at a cut-price rate to whichever of the Merseyside giants proves the most appealing.
- - -
Meanwhile, the obligatory Manchester City story sees the Blues up their efforts to sign Dani Alves. (Daily Mail)
The 27-year-old Alves is contracted until 2012 at Barcelona, but if City stump up a big enough number anything is possible.
Barca apparently expect a City contingent to be watching Alves in their game against Real Madrid.