Liverpool and Tottenham Hotspur are reportedly preparing contract offers for Inter Milan defender Milan Skriniar.
The Slovakian has been at San Siro since 2017 and has won all three domestic trophies on offer in Italy during his five years at the club so far.
Skriniar's deal expires at the end of this season and Inter are hoping to come to terms on an extension, but no agreement has been made so far.
Liverpool, Tottenham and Manchester United are all ready to send offers to his agent, as are Paris Saint-Germain, as the competition heats up for the defender.
"Milan Skriniar is genuinely one of the best free agents who could ever become available, he would be right up there with someone like Antonio Rudiger," Bailey told TEAMtalk.
"Most clubs who are now showing an interest did not believe that he would be leaving Inter, but their attempts to tie him to a new contract have thus far not proven successful."
The 27-year-old has a wealth of experience from his time in Italy, totalling 236 appearances, as well as 54 caps for his country and has the reputation as one of the best centre-backs in Serie A.