Any deal to sign Bellingham from the German side this summer is expected to cost more than £120 million ($149m) and GOAL can confirm that the Reds have deemed him too expensive after being linked with him for several years.
The 19-year-old could end up being signed by Liverpool's domestic rivals Manchester City or European giants Real Madrid, unless he decides to stay at Dortmund for at least one more year.
The England international is regarded as one of the finest talents of his generation and will be expected to take up a vital role for his next club for years to come.
So, will Liverpool come to regret their decision not to sign Bellingham? Have your say below 👇