Real Madrid are supposedly prepared to pay Liverpool a fee to sign Trent Alexander-Arnold before their Club World Cup campaign begins in the middle of June.
The England international is still yet to agree a new deal at Anfield beyond the end of the season, leaving the Reds at increasing risk of losing their home-grown talent on a free transfer this summer.
Alexander-Arnold was said to have been the subject of a failed £20m approach from Real Madrid towards the start of the winter transfer window, and Los Blancos decided against making another move in January.
Carlo Ancelotti's side - who are believed to view Alexander-Arnold as the ideal long-term successor - have instead been banking on the 26-year-old running down his Reds deal and joining as a free agent ahead of next season.
However, The Sun reports that Los Blancos could still dip into their cash reserves to sign the England international ahead of time, as they apparently want him at the Bernabeu in time for the Club World Cup.
Real Madrid 'ready to pay' for Alexander-Arnold
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Alexander-Arnold's Anfield contract will officially expire on June 30, but Real Madrid begin their Club World Cup campaign on June 18, facing Saudi Pro League giants Al-Hilal in their group-stage opener.
Ancelotti's side then meet Pachuca (June 22) and Red Bull Salzburg (June 26), and if they progress to the last 16, their first knockout game will be played on either June 30 or July 1.
As Real Madrid are reportedly hoping to have Alexander-Arnold in their ranks before they fly out to the USA, they are rumoured to be willing to pay Liverpool a fee to sever him from the final few weeks of his contract.
Even if Los Blancos are unsuccessful in that regard, they could still register the Liverpool man for the latter stage of the competition, as FIFA's 'exceptional window' allows Club World Cup teams to add two players to their squad from June 27 to July 3.
Alexander-Arnold is currently free to negotiate a pre-contract agreement with the Champions League holders starting from July 1, but Reds boss Arne Slot is still optimistic that the vice-captain will sign on the dotted line at Anfield.
The 26-year-old has remained an integral player for Liverpool this season amid the unwelcome distraction of his contract situation, amassing three goals and seven assists from 37 matches in all tournaments.
Alexander-Arnold's total for Liverpool now stands at 22 goals and 87 assists from 347 matches, and he is expected to start Saturday's Premier League showdown with Southampton, where the Reds can open up a 16-point lead at the top of the Premier League table.
What is the latest with Mohamed Salah, Virgil van Dijk?
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Another week passes with little progress on the contract front at Liverpool, as Mohamed Salah and Virgil van Dijk are also in the final few months of their terms and can also hold discussions with foreign teams.
Van Dijk has repeatedly insisted that he is calm over his future and maintained that stance when he was last questioned about his contract situation, but reports that he has already agreed an extension are seemingly wide of the mark.
Meanwhile, Salah has openly admitted several times that he is playing this season as if it is his 'last' at Anfield, but the Egypt international is thought to be open to staying under the right conditions.
Ben Knapton
