Nottingham Forest are one of three clubs reportedly keen on the 21-year-old wideman, who will be allowed to leave Aston Villa this summer for a suitable fee.
The Reds are thought to be ready with an offer of £300,000 now and the rest based on appearances.
Sunderland and Wolves are also interested, but although Whittingham would prefer a move to the Championship rather than League One, neither of those sides currently has a manager.