Real Madrid are considering a new move this month to sign Trent Alexander-Arnold.
The Spanish giants were quickly dismissed after approaching the Reds on Tuesday. Liverpool are not interested in selling the right-back this month and are still hoping he will sign a new contract.
But Real are now considering a different approach and are willing to pay up to £20.7 million (€25 million) if they can complete a deal in the January transfer window. Alexander-Arnold, 26, is out of contract this summer and is free to sign a pre-contract agreement with foreign clubs now that he has entered the final six months of his contract.
Liverpool have received no indication from the player that he wants to leave the club. They are still in an open dialogue with the defender and his family about a new deal. Real are clearly enthusiastic and with Dani Carvajal absent this season, they want to bring in a right-back as soon as possible.
But they are also wary of upsetting the player as their main aim is to sign him – now or in the summer. They don't want to risk him turning down a move to Spain, but are also showing how much they want his signature. Liverpool don't want the player's head turned in the middle of an important season when he is top of the Premier League and in good form in Europe.
The Reds had two reasons for rejecting Real Madrid's approach for Trent Alexander-Arnold. The first is that they are still hopeful that the right-back will sign a new contract at Anfield, so why would they take up an offer where dialogue is still open with the player?
But the second – and most important at this point – reason is that they need him for the rest of the season. Conor Bradley could be a ready-made replacement if Alexander-Arnold does opt for Spain this summer.
But this Liverpool team under Arne Slot is currently flying with the England international at right-back, so there's no chance the Reds would rock the boat. Some might argue that it is an opportunity to bring in some money for the player if his intention is to walk away at the end of the campaign when his contract expires.
That is also not yet known. But if he decides to do so, what good would Liverpool do this month? It won't be enough to buy another right back of Alexander-Arnold's level, that's for sure.
But what would be the value of winning the Premier League and/or the European Cup for the club? There is of course the financial price. It's huge in both leagues.
Finishing higher in the table or going deeper in the Champions League means more pound notes, and there are a lot of them. Then there's the economic impact surrounding it in the form of increased revenue from merchandise, TV, advertising and sponsorship.
But as a simple sporting decision, it would be madness to sell a starting player now when you are at the top of the table in England and Europe as well as in the Carabao Cup semi-final. The only reason for that is so you can get compensation, but it would be an outrageous decision to upset the team for a few million.
It is why Liverpool – rightly – told Real in no uncertain terms what they stood on the matter. Alexander-Arnold is not for sale. The Reds' focus is on winning this season and getting the player to sign a new contract. They are hopeful that both things will happen.
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