Spanish and European champions Madrid have emerged as a suitor for Salah following his stunning four-goal haul in Saturday's 5-0 demolition of Watford in the Premier League, while Barcelona have also been linked with the Egypt international forward.
Liverpool have already lost one star to La Liga's two powerhouse clubs – Philippe Coutinho joined Barca in January – and former Arsenal forward Wright feels the Reds could be forced to part with a second.
"Anyone that has come into the Premier League and scored that amount of goals, you're going to court that kind of attention," Wright told Sky Sports.
"I didn't think he'd have that kind of impact, but when you have had such an impact, you are going to court attention. What clubs will have seen with Liverpool is that if you keep pressing for one of their players, you might get them in the end.
"This is the problem Liverpool will have. If Salah continues this kind of scoring next season, they will be courting him.
"Not being disrespectful to Liverpool, but Salah won't have grown up dreaming of playing for Liverpool - if Real Madrid come knocking, he's going to be taking notice of that.
"Losing Salah would be a much bigger loss than losing Coutinho."
Salah's incredible form has already seen him pass Fernando Torres' record of 33 competitive goals for a player in his debut season at Anfield.
The forward is now within striking distance of Ian Rush's club scoring record for a single season, though he'll need to close the season incredibly well to make it happen .