Liverpool striker Michael Owen is considering a move to Real Madrid after contract talks with the Reds broke down, according to newspaper reports.
Real, who are said to be willing to pay £10m and throw in Fernando Morientes or Samuel Eto'o, refused to comment.
Owen's contract at Liverpool runs out at the end of this season and he would be able to leave on a free transfer.
Liverpool named Owen as a substitute in their Champions League game against Graz AK to avoid him being cup-tied.
The 24-year-old England forward had said he was close to signing a new contract, but reports say the two parties have been unable to come to an agreement.
Former Liverpool defender Mark Lawrenson told BBC Sport that he believed a move to Real Madrid could prove too tempting for Owen.
"From Michael's point of view, if he does harbour intentions of playing abroad and Madrid come in for him, I would expect him to go or otherwise he should just sign a lifetime contract at Anfield.
"If you turn Madrid down where do you go after that as they are the best in the world?"
Liverpool boss Rafael Benitez earlier refused to be drawn on rumours that Owen's future depends on whether he plays against Graz AK on Tuesday.
Owen, who has also been linked with Barcelona, has been holding talks over a two-year contract extension.
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If he does not it is because another player is considered better, nothing more than that
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Benitez said: "I have nothing to say about his contract. Michael has travelled and I can use him if I want."
If Owen was to play against Graz it would lower his value in the transfer market since any interested clubs would not be able to play him in Europe this season.
Benitez added: "For me it is important for this match that I do not talk about
individual players.
"My job is to pick the best team for this big match which is very, very important to us.
"I will decide during the night my team and formation. All the 19 players
here can play.
"I can pick him and if he plays it is because he is the right player for the
game. If he does not it is because another player is considered better, nothing
more than that.
"I do not name my teams until the day of the game and this team will not be
named until 30 minutes before the game."
Owen had previously hinted that the arrival of new manager Rafael Benitez has swayed his decision to stay at Anfield.
Last week he implied he was on the brink of signing a new deal but he has been cagey in recent days, leading to speculation that his talks with the club have hit a snag.