Real Madrid have agreed a fee with Liverpool for right-back Alvaro Arbeloa.
The deal is reported to be worth £3.5m to the Reds, who signed the 26-year-old for £2.6m from Deportivo La Coruna in January 2007.
Defender Glen Johnson’s June arrival from Portsmouth paved the way for Liverpool manager Rafael Benitez to sell Arbeloa.
Arbeloa, who began his career at the Bernabeu, scored two goals in 98 games for Liverpool and speculation had suggested he could join Real in a joint deal with Xabi Alonso.
However, Benitez has spoken to Alonso and urged him to stay at Anfield.
“I talked to Xabi and told him, as he can see here, that the fans love him and said to him ‘Maybe you have to stay,” said Benitez recently.
“You can see he is a really good player and I’ll be really pleased if he stays. All the players and his team-mates want him to stay. If we keep Xabi I will be very pleased.”
Liverpool striker Fernando Torres is also keen for his Spanish international team-mate to remain at Anfield.
“It would be a bad piece of work if Xabi left – he plays his cards close to his chest so I don’t know what is going to happen,” Torres told The Sun.
“I’d put Xabi’s own wishes ahead of everything else, of course, but he’s got three years left on his contract with us and I’d love it if he stays.
“It would be a serious loss for Liverpool if he left this summer.”