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The matter will be taken out of its hands at the end of the defender's contract this summer, but a Premier League rule change could yet prove significant if La Liga follows suit.

Whether Liverpool retained hope of convincing Alexander-Arnold to stay, or simply calculated that his performances until the summer would be more valuable to Arne Slot than any sum Real Madrid might have paid, only Richard Hughes and a handful of others will know.

But the upshot is that he will now leave his boyhood club on a free transfer.

However, that would mean Alexander-Arnold missing out on the chance to play for Real Madrid at the Club World Cup, which takes place while he is still under contract at Anfield.

The Premier League has approved a new transfer window, primarily for the benefit of Club World Cup teams.

But if La Liga follows the Premier League's example, Real Madrid will have a second chance to convince the Reds to part with Alexander-Arnold a little early.

This time around, Liverpool would have no real reason to hang on to him, except maybe spite.

And that's unlikely to be a driving motivator for FSG, who could save around a month of wages, and net a nominal transfer fee.

But while Premier League clubs can now buy ahead of the Club World Cup, being able to sell to foreign clubs is dependent on foreign transfer windows opening.

Real Madrid is said to be very eager to involve Alexander-Arnold in the Club World Cup, so it may also be lobbying the league for an equivalent transfer market tweak.

However, as things stand, any measure allowing Alexander-Arnold to get out of his Liverpool contract early in order to participate in the Club World Cup would require special ad-hoc permission from La Liga