Alvaro Arbeloa has admitted that he is flattered to have been linked with a move to Real Madrid.
The Spaniard faces competition for a place in the Liverpool side following Glen Johnson's arrival at Anfield.
Real Madrid expressed an interest in Arbeloa earlier this week, along with his compatriot and Reds team-mate Xabi Alonso.
Arbeloa welcomes the transfer talk and concedes that it is not certain he will be plying his trade with Liverpool next season.
"I am especially proud of what the club is doing," said the Spain defender, who is in South Africa for the Confederations Cup.
"It is a big project with the return of Florentino (Perez) - and obviously if Madrid is fixed on you it makes you proud."
Arbeloa added in Marca: "I would be lying if I said I was sure to start the season with Liverpool.
"I'll be able to think about all this by next Monday."