Eindhovens Dagblad reports PSV are keen to sign Phillips this month, but not at Liverpool's valuation.
The Dutch giants would prefer a six-month loan, however Liverpool are demanding an outright sale at a price of €12m.
For PSV, the asking price is deemed too rich.
West Ham United and Watford are also in the market for Phillips, while PSV are willing to revisit talks if Liverpool are prepared to drop their demands.
Need a VPN? Or seeking to switch? Then support Tribal Football by clicking here to sign up with our official partners NordVPN. Not only will you receive the best VPN experience, but also great discounts by signing up via Tribal Football. Thanks for your support!