Mario Balotelli's agent Mino Raiola has revealed that the striker will not be leaving Anfield this summer.
Graham Dorrans has signed a two-year deal with Norwich City following a successful loan spell with the club.
Fulham made their move for McCormack on Friday, as they became the first club to make an approach for the Leeds captain.
Their offer, understood to be £5million, has been shunned by Leeds owner Massimo Cellino, but Fulham are expected to increase their bid.
It is also believed a number of other clubs including West Ham United, Queens Park Rangers, Aston Villa, Derby County, Sunderland, Norwich City and Southampton are closely monitoring the situation and could join the bidding.
McCormack finished last season as top-scorer in the Championship and it is understood that Cellino wants over £8million for his skipper and most prized asset.