Schlupp, 20, is currently on trial at Old Trafford, having featured in recent matches for the Red Devils’ Under-21 side.
The 20-year-old has been linked with a move to Manchester United on several occasions in recent months.
Leicester City could technically recall Schlupp, but it looks as if he will remain in Manchester while the club hold talks with United this week.
“I think we’ll be discussing this week what the next step is,” said Leicester City manager Nigel Pearson.
“He’s done well at United, he’s played the last two games that he can play there so clearly it’s going to have some effect this week.”
The Hamburg-born Ghanaian is extremely versatile, and has the ability to play forward as well as left-back.
Ayre plays down Reds’ financial woes
Liverpool managing director Ian Ayre has revealed the club will not be force into selling their top players amid financial woes, Sky Sports understands.
The Reds’ debt increased to to £87.2 million after the club posted an annual loss of £40.5 million in the accounts.
Liverpool’s financial woes have fueled speculation that the club may be forced into selling some of their top players in the summer, including talisman Luis Suarez.
At the moment, Suarez is the top goal scorer in the English Premier League with 21 goals in 27 league appearances.
However, Ayre has rubbished these reports, insisting that the Reds will be looking to add to their squad when the transfer window reopens in the summer.
“We won’t be selling anyone because of the financial position,’ said Ayre. “If we are selling anyone, it will be because they are deemed by the manager to be surplus to his requirements and if that happens we will be replacing them and bringing new players in as we always do.
“There’s no panic on our part. We feel that we are making progress and improving all the time.
“Our aspiration for the next couple of years, as the rules will dictate, is to break even and then to make a profit beyond that.”
To make matters worse for the Merseysiders, Liverpool are currently 10 points adrift of Chelsea for the final UEFA Champions League qualifying place.
On a positive note, Andy Carroll — currently on loan at West Ham United — has most certainly played his final match as a Liverpool player.