Real Madrid's bid for Xabi Alonso on hold - Liverpool FC latest

If Liverpool reluctantly agree to sell and are able to pocket all the cash, Madrid hope they will be able to get Alonso for close to £25million rather than the Reds' £35million valuation.

Madrid have continued their controversial public courting of the Spaniard with Kaka urging his new club to sign Alonso.

The former World and European player of the year, who has moved from AC Milan for £56million, was officially unveiled at the Bernabeu last night.

Kaka said: "I've played against Xabi Alonso in two European Cup finals.

"He's an excellent player and also Spanish. He would be very welcome."

Meanwhile, Barcelona are ready to test Liverpool's resolve with a £25million bid for Javier Mascherano.

But, that is certain to be rejected with Rafa Benitez saying "not even £50million" would convince the Reds to sell the Argentinean.

Mascherano has praised compatriot Emiliano Insua and believes there is more to come from the 20-year-old left-back who made 13 appearances last season.

"Obviously he is a young player so can still improve and get better," Mascherano said.

"It isn't easy to be playing for the Liverpool first team at just 20. I'm really happy for him.

"Emiliano didn't play first-team football in Argentina, so to come here at such a young age and make the breakthrough is a great achievement.

"It would have been easier for him had he played first-team football in Argentina. Everything was new to Insua when he came here. But after just two years he is playing really well."