Long-term Liverpool target Gabriel Heinze is set to be one of the first casualties as Real Madrid seek to trim their squad.
The Spanish giants are preparing a cull of up to 10 players after kicking off their summer spending spree with the £56million purchase of Kaka and the impending £80m arrival of Cristiano Ronaldo from Manchester United.
Madrid see the Argentine as expendable, putting the Reds on alert as well as his former club Paris Saint-Germain.
The 31-year-old has a year left on the contract he signed when joining from Manchester United in 2007. Reports in France yesterday said his return to PSG is 'almost fact', but they would not be able to come close to his current £100,000 a week deal.
Reports in Spanish newspaper Sport say Anfield boss Rafa Benitez maintains an interest and is ready to pounce if the price is right.