Kondogbia has impressed in Spain on loan at Valencia.
The La Liga side have a £22m option to sign him from Inter Milan on a permanent deal.
But Tuttomercatoweb claims Liverpool and Tottenham are prepared to make bids if Valencia opt not to.
Kondogbia, 24, has made five La Liga starts with Valencia in third place behind only Sevilla and Barcelona.
And English scouts have been watching him and are impressed with his form following a disappointing spell at Inter.
Kondogbia joined Inter from Monaco in 2015 but was allowed to leave on loan in the summer.