The Dutchman struggled during his time at Old Trafford and was shipped off to Lyon by Jose Mourinho back in 2016.
Depay is not enjoying a positive spell for the French side but is thriving on the international stage for Ronald Koeman’s men.
After netting a brace against Belarus on Thursday evening, there is now talk that the winger could be Premier League-bound in the future.
And former Arsenal star Robert Pires has backed Depay to succeed if he returns to England with one of United’s closest rivals.
“Depay wants to come back to the Premier League and he feels he has unfinished business in England,” he told Bwin.
“He perhaps feels he wasn’t given a chance to perform and earn the right to stay longer considering he was so young and showed glimpses of undoubted potential.
“Depay might want to return to Manchester United or he might be motivated to prove them wrong by performing for one of their rivals in the Premier League.”
In other Liverpool news:
Virgil van Dijk and Georginio Wijnaldum, who both also scored during Thursday’s 4-0 win, know Depay well from their time with the Netherlands.
And the Lyon star could act as a perfect replacement for Philippe Coutinho at Anfield.
“I say it every time, he is a great player,” Dutch manager Koeman said on Thursday.
“He may be going through a lesser phase at his club, but if he feels free and has confidence, he can do a lot.
“Memphis is a very important player for us, he has proven that in this competition.”
Liverpool are set to spend in the summer after a quiet January transfer window.
Reds boss Jurgen Klopp is still looking for an attacking midfielder following Coutinho’s departure and Nabil Fekir’s proposed summer move falling through.