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Real Madrid could pay a small transfer fee to sign Trent Alexander-Arnold before his Liverpool contract expires, according to reports.
A deal has been in the works since January, when Real Madrid had an approach knocked back by their Merseyside counterparts.
Alexander-Arnold is expected to sign a five-year contract, which will see him earn more than £220,000 per week.
He remains tied down to Liverpool until the end of June, but Real Madrid could try to prise him away before then so he can play in the Club World Cup.
The new-look tournament is set to begin in the United States on June 15.
Real Madrid are willing to pay a transfer fee of around £5million to sign Alexander-Arnold on the first day of June, according to The Sun.
They are said to be optimistic that Liverpool will accept it and release him early, allowing him to feature in the Club World Cup.
The deal would also save Liverpool a month's wages on the England international, who is earning around £140,000 per week at Anfield.
Real Madrid explored a move for Alexander-Arnold earlier in the campaign, making an approach on the eve of the January window.
Liverpool, however, were determined to keep their vice-captain in preparation for the Premier League run-in.
They are now said to be resigned to his impending departure, which suggests they could be tempted to accept Real Madrid's offer rather than letting him leave on a free transfer.
Alexander-Arnold is set to make his final appearance for Liverpool on the last day of the Premier League season, when the Reds host Crystal Palace.