Per the source, the Black Eagles have reached an agreement with Benteke but the Reds £32 million asking price could scupper the deal.
The Echo report that Liverpool want £32.5 million for the Belgium international striker and that Jurgen Klopp will not consider offers below the asking price.
Besiktas would not be able to match the Reds asking price as they are under FFP watch and could face a European competition ban if their spending exceeds revenues over the summer.
The Black Eagles have however, made the Reds a loan offer which Liverpool are considering according to Fanatik.
Besiktas won the league title last season but star striker Mario Gomez revealed he would not be returning to the club over the summer which has forced the club to look for alternatives.
A loan deal would give Benteke first team football and Champions League action. Considering Demba Ba and Mario Gomez rediscovered their form at Besiktas over the past two seasons it may strengthen the Istanbul giants proposal.