Trent Alexander-Arnold is the subject of intense transfer interest from Real Madrid. And it seems Carlo Ancelotti is playing an active role in the pursuit of the Liverpool star.

With his contract ticking down, Alexander-Arnold has long been linked to Real Madrid, but speculation has found a new gear in recent weeks. That comes amid an apparent transfer offer, with the La Liga side seeking to take him six months prior to the end of his Liverpool contract.

Liverpool is not expected to entertain this proposition, a stance which has been communicated to Real Madrid. But the bid speaks to the extent of the interest, which has been encouraged by former Everton boss Ancelotti.

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From a squad planning perspective, it has long made sense for Real Madrid to target Alexander-Arnold for nothing in the summer. Dani Carvajal turns 33 this month, and a free transfer for perhaps the best right-back in the world is exactly the kind of move which has allowed Los Blancos to remain so dominant for such a long time.

But the acceleration of the interest to January speaks volumes about Ancelotti's stance on the player. The Italian is 65, and the assumption might have been that Alexander-Arnold would effectively be a signing for the benefit of his successor.

Yet Ancelotti seemingly wants the Liverpool man now. Sure enough, The Times reports that the veteran boss is "pushing" for the signing.

Naturally, this is impacted by the absence of Carvajal for the remainder of the season. But for a coach renowned for bringing the best out of his existing group, and beloved for his seemingly laid-back approach, this active transfer intervention is significant.

On paper, at least, the decision to make a January bid presents Liverpool with a dilemma. It's one the club appears to have already answered, but it nonetheless warrants a degree of consideration.

Amid claims that Real Madrid could make a $62m (£50m) bid for Diogo Dalot in its desperation for a right-back, how high might it go to get Ancelotti's true target? A bid for Alexander-Arnold would be unlikely to reach those heights, with just six months left to run on his contract, but Liverpool could still secure a payday substantially higher than expected.

Losing a player like Alexander-Arnold for nothing would be galling at best for FSG, and damning at worst. A sale would arguably at least salvage something from the situation.

But of course, that has to be weighed up against the situation on the pitch, where Liverpool is six points clear of Arsenal in the Premier League with a game in hand. Sabotaging a golden chance at a 20th title for the sake of a fee still a fraction of Alexander-Arnold's true value would be unthinkable.

Even with the able Conor Bradley on hand to deputize, Liverpool is surely right to prioritize stability as Arne Slot looks to complete a dream debut season at the helm. But with Ancelotti pushing, the club's resolve may yet be tested again before the end of the month.

Liverpool.com says: Real Madrid would probably need to at least match the $62m supposedly on the table for Dalot in order to even get Liverpool to consider losing Alexander-Arnold early. He is just too important.

Moreover, the Anfield hierarchy insists it has not given up hope of tying Alexander-Arnold to fresh terms. Selling now would obviously mean writing off the chance of a valuable breakthrough over the coming months.

Liverpool has put itself in an incredible position to do something amazing under Slot. However keen Ancelotti is on doing business in January, it will surely be a non-starter.