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In fact, it could happen before his contract at Liverpool even expires, with Los Blancos eager to have him involved at the Club World Cup.
Now, it looks as though Arne Slot and his men will be forced to watch on as last summer’s big target moves to another of their rivals.
Having rejected the chance to move to Merseyside last summer, Martin Zubimendi now looks to be on his way to Arsenal.
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Formal steps are soon to follow, with the Gunners set to trigger the player’s $68 million clause.
Considering he appeared to indicate that he had no interest in leaving Real Sociedad, Zubimendi’s apparent U-turn will no doubt leave Slot and Liverpool’s sporting director Richard Hughes less than pleased.
The midfielder was earmarked as a major signing for the Reds last year, with the No.6 position seen as the biggest priority following Jurgen Klopp’s departure.
“I don’t believe in 'once-in-a-lifetime' opportunities," Zubimendi said after his snub.
Still, a player of Zubimendi’s caliber would no doubt have been very welcome on top of that.
Xabi Alonso, who is set to join Alexander-Arnold at the Bernabeu this summer, knows all about what Liverpool could have had if it had signed Zubimendi.
The former Reds midfielder worked with Zubimendi during his time managing Real Sociedad’s B team, where he offered some advice to his protege.
Speaking about Zubimendi in The Spirit of Real Sociedad documentary, Alonso said: "How good he was on the pitch, he didn't quite believe it off it
I told him 'Look, Martin, you have to accept it.'"
Alonso’s insight into Zubimendi’s character may have also explained why he would go on to turn down a move to Liverpool - although his explanation may not carry as much weight now he looks destined for Arsenal.
"When you talk about a nice player project, Martin's case is perfect,” Alonso explained
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