And according to the Daily Mail, the Spaniard has made Manchester City duo Fernando and Eliaquim Mangala top of his shopping list.
Both players arrived at the Etihad Stadium with big reputations but have failed to impress Pep Guardiola since his arrival as manager last summer.
Fernando has made only 12 league appearances for the Blues this season while Mangala has spent the campaign on loan in Spanish side Valencia.
Baggies boss Tony Pulis has confirmed his interest in Taylor, who is out of contract at Elland Road, and is prepared to offer between £3million and £5million for the player.
The Academy graduate has already seen a transfer request rejected last summer with Middlesbrough and Burnley also monitoring the situation.
Relationships at Elland Road have broken down between the player and the club over the past week after manager Garry Monk claimed Taylor refused to play in the final game of the league campaign against Wigan Athletic at the weekend.
Former Huddersfield Town boss Neil Warnock looks set to land his first summer signing with the capture of Rochdale winger Nathaniel Mendez-Laing, according to HITC.
Mendez-Laing has scored 10 goals for the League One side this season, helping the club to an ninth-placed finish and is available on a free transfer this summer when his contract expires.
HITC are also reporting a number of clubs are interested in signing Nottingham Forest striker Apostolos Vellios.
Olympiakos and PAOK are favourites to pave a way for the forward's homecoming to Greece with Danish side FC Midtjylland also interested.
The Greek star arrived from Iraklis last summer but has failed to establish himself as a first-team regular under new manager Mark Warburton and has not started a game since the December 17 clash against Wolverhampton Wanderers.
The Toffees are in need of a new wide man with both Yannick Bolasie and Aaron Lennon sidelined and is well-known to Blues director of football Steve Walsh, who signed him from the French second tier while employed by Leicester City back in 2012.
And finally, West Ham United have been linked Bristol City defender Aden Flint, according to The Sun.