Real Madrid waste no time with 'formal' Trent Alexander-Arnold talks ...

Fabrizio Romano has revealed what to expect next in the Trent Alexander-Arnold transfer saga after Liverpool rejected an approach from Real Madrid – while Paul Joyce has pinpointed what the Spanish giants would have been willing to pay for a January transfer and the full-back’s current stance has been clarified.

Real Madrid made their move for Alexander-Arnold on New Year’s Eve by signalling their interest in paying Liverpool to sign him in January, rather than wait until the summer to welcome him as a free agent, as many assumed their plan had been all along.

They will have to revert to that plan, though, after Liverpool bluntly refused to entertain selling Alexander-Arnold in January. And now 2025 has begun, the player’s fate is in his own hands as he chooses between a new contract on Merseyside or a move to Spain.

Alexander-Arnold can now officially start holding talks with Real Madrid after entering the final six months of his contract at Liverpool. And Romano has confirmed on Wednesday morning that ‘formal talks’ between Real Madrid and Alexander-Arnold’s camp are ‘expected this month’, with the reigning Champions League holders ‘fully focused’ on bringing in the 33-cap England international.

That should come as little surprise, given how much of a priority Real Madrid have made Alexander-Arnold for 2025 as they seek a replacement for Dani Carvajal – whose current injury prompted Carlo Ancelotti’s side to accelerate their interest in Liverpool’s no.66.

While Liverpool said no to Real Madrid before they could even think about putting figures on the table, an update from The Times‘ Paul Joyce – a trusted source on Merseyside – has shed some light on what the bidders would have offered had they been given enough encouragement that there was scope for a January deal.

The value Real Madrid had in mind, according to Joyce, was in the region of £20 million – a significant fee for a player they can sign for nothing in the summer if things go their way, but also one that doesn’t exactly reflect Alexander-Arnold’s ability in his prime without the context of his contract situation.

GO FURTHER: Five reasons for Trent Alexander-Arnold to stay at Liverpool vs five reasons to leave for Real Madrid

Trent Alexander-Arnold: Stance on future revealed

Liverpool have not given up hope of tying their vice-captain down to a new deal, with an offer of an extension already on the table from Richard Hughes (just like with Mohamed Salah and Virgil van Dijk).

However, he is in control of his own destiny now, since he can agree to join Real Madrid for next season or can put pen to paper on fresh terms with Liverpool.

Jamie Carragher has speculated that Real Madrid’s bid to sign him is a clue that Alexander-Arnold and his entourage are encouraging a move to the Spanish capital – but an update has suggested it could be still all to play for.

According to the Daily Mirror, Alexander-Arnold ‘has given Liverpool chiefs no indication’ that he wants to leave for Real Madrid – yet.

Talks over a new contract at Liverpool have been lasting for several months and claims that Alexander-Arnold has now informed the club that he wants to join Real Madrid are wide of the mark as things stand.

But there are two clear options of how this saga will pan out and Liverpool fans will be remaining anxious until they get any confirmation of what Alexander-Arnold’s actual intentions are.

Latest Liverpool news: Better outcome expected with Salah

Meanwhile, Liverpool are getting ever more confident that Salah will stay at the club with a new contract of his own.

Reports on New Year’s Eve suggested there was an agreement in principle now in place for Salah to commit his future to Liverpool over a two-year contract.

However, there is still one issue that needs to be finalised for Salah to confirm his Liverpool renewal: his image rights.

Elsewhere in their attack, TEAMtalk has learned that Darwin Nunez could be made available for transfer after Liverpool set their sights on two world-class replacement options.

And there have also been claims that Liverpool are readying a move for Crystal Palace defender Marc Guehi, regardless of Van Dijk’s future.

How could Liverpool replace Alexander-Arnold?

If Alexander-Arnold leaves Liverpool, they will need a high-quality replacement at right-back to take his place ahead of Conor Bradley in the pecking order.

Some options they could target include:

Jeremie Frimpong (Bayer Leverkusen)

Lutsharel Geertruida (RB Leipzig)

Pedro Porro (Tottenham)

Denzel Dumfries (Inter Milan)

Vanderson (Monaco)