The Spanish side are keen to bring in Riera as a replacement for Roberto Pires, who looks set to leave the club at the end of the season.
Liverpool could be interested in selling Riera as the Spaniard has failed to make an impact since joining the club in a £8million deal from Espanyol in 2008.
A source for Villarreal told News of the World: “If a deal for Riera is feasible, we will have to explore our options.”
