The turn of the new year was always going to spark conversation about Trent Alexander-Arnold’s future at Liverpool. The right-back is now permitted to sign pre-contract agreements with overseas clubs given he has entered the final six months of his deal.

We are only two days into the January transfer window and Liverpool have already rejected an approach from Real Madrid. Alexander-Arnold has already committed the rest of this season to Liverpool, albeit could not guarantee anything beyond that.

Either way, Los Blancos have now made the first move and their summer intentions are crystal clear. This hardly comes as a surprise but speculation will only intensify the longer the current status quo continues. And now Carlo Ancelotti’s comments have further stirred the pot.

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‘Wait and see’

Ancelotti was asked about Real’s January transfer plans on Thursday and refused to rule out any arrival, if not directly addressing Alexander-Arnold. “It is difficult for me to talk about that in this context. But we are going to have to wait and see," he said.

“It’s not sensible for me to speak about the market right now. I’m not going to speak about it because right now, here, is not the place to talk about it.

“We will see what will happen but I have a great squad. We have got injuries and problems with that but we are also able to overcome them.”

Possible second approach

The Times says the La Liga champions may revisit a bid for Alexander-Arnold later this month. If the Liverpool vice-captain does not pen a renewal then January is the only window in which the Reds can reap a fee for their academy product.

The report says that, knowing this, the Spaniards could look to table around £20million for Alexander-Arnold before deadline day. Liverpool chiefs quickly and firmly swatted away Real’s initial approach this week and it is likely the Spanish club would get a similar response a second time around.

Madrid have been looking for long-term right-back options anyway but a season-ending injury to Dani Carvajal has sped up plans. They could alternatively look for a quick fill-in just for the second half of the campaign.

Claims from Spain

Spanish outlet Marca has claimed that Alexander-Arnold has ‘chosen’ to move to Real this summer, a claim that was made before this week’s approach. There is natural scepticism about these suggestions, though.

Such reports are quite a regular occurrence when one of the two Spanish giants are linked with a high-profile player - and not all in the past have been accurate. And the current soundings from inside the club are not directly chiming.

What we know

The ECHO understands that Liverpool have not been told by Alexander-Arnold or any of his close circle that he wishes to swap Merseyside for Madrid. Contract talks with his agent are ongoing and the club are planning to finish the season with him in house.

While Liverpool anticipate that Madrid will initiate contact with Alexander-Arnold, as they are now allowed to do, the club are not willing to consider a mid-season exit. As mentioned before, the player himself has outlined his intention to see the season through at Anfield.