Liverpool have turned down a 30m bid from Arsenal for striker Luis Suarez.
Suarez has been at the centre of transfer speculation after receiving a 10-match ban for biting Chelsea defender Branislav Ivanovic at Anfield last season.
Real Madrid had been expected to lead the pursuit of the 26-year-old Uruguayan after he said he had become disenchanted with life in England.
Liverpool have declined to comment on the reports of Arsenal's move.
However, it is understood an approach was made and instantly rejected as the Merseyside club continue to insist they want to keep Suarez at Anfield.