The 22-year-old has been in strong form for Leverkusen during the 2023-24 campaign, featuring on 18 occasions in all competitions, scoring six goals and registering seven assists in the process.
Frimpong played the full 90 minutes of Leverkusen's game with Dortmund on Sunday, which finished 1-1, with Xabi Alonso's side remaining unbeaten in all competitions this season.
Manchester United were heavily linked with Frimpong earlier this year, and it is believed that the Red Devils had been planning to move for him over the summer, but Aaron Wan-Bissaka's strong form in the second half of last season, coupled with a new deal for Diogo Dalot, meant that a potential switch was abandoned.
There is again widespread speculation surrounding the future of the Netherlands international due to his ongoing impressive form.
According to 90min, both Arsenal and Liverpool sent scouts to watch Frimpong in action for Leverkusen last weekend, with the two Premier League clubs interested in his signature.
The report claims that there is a £35m release clause in the defender's current deal, although the buy-out fee is only said to be valid until next summer.
Arsenal are said to be keen to move for a new right-back despite having Ben White in that position, with the Englishman signed primarily as a centre-back.
Liverpool, meanwhile, have pushed Trent Alexander-Arnold into a midfield role at times this season, and if that becomes permanent moving forward, a new right-sided defender would be required.
Frimpong came through the youth system at Manchester City, but he failed to progress to
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