Trent Alexander-Arnold left Liverpool as a Premier League champion but under a cloud at the end of the 2024/25 season.
The right-back had agreed to join Spanish giants Real Madrid on a free transfer, a switch whose circumstances left some Liverpool supporters disgruntled with a player who had grown up at Anfield.
Jumping to Real Madrid was the sort of opportunity few professional footballers feel they can turn down but it doesn't always work out as planned. Alexander-Arnold has dropped down the pecking order at the Bernabeu and a move away is believed to be a genuine possibility after just a year and a half.
Trent Alexander-Arnold could move back to England - but maybe not to Liverpool
The England international linked up with former Reds midfielder Xabi Alonso in the summer of 2025 but has since experienced two managerial changes, with Real Madrid alighting on a return for Jose Mourinho after briefly promoting another ex-Liverpool man in the form of Alvaro Arbeloa.
Whether moving to Real Madrid was a dream come true or just a chance Alexander-Arnold didn't think he could refuse, reports indicate that the journey could soon be at an end for the 28-year-old.
It has been reported that Chelsea, Arsenal and Manchester City could have an interest in competing with Liverpool for Alexander-Arnold's signature, and that the player is 'weighing up' the possibility of heading back to the Premier League.
And Chelsea reporter Simon Phillips has claimed that the Blues are at the front of the queue, thanks in part to Alonso's wish to reunite with Alexander-Arnold in London after a brief spell together in the Spanish capital.
"Should a move for Alexander-Arnold materialise, [Malo] Gusto would be given the green light to leave," reports TEAMtalk. "Liverpool launched a deadline day loan bid for the France international over the summer. Chelsea were willing to offload Gusto, though only in a deal with permanence attached."
England teammate Reece James is the natural first-choice for Chelsea but his injury record has become a problem for successive Blues managers and a more reliable alternative would be a sensible acquisition.
Alexander-Arnold would fit the bill and provide the attacking impetus from right-back that's expected in a team expected to play with the ball as much as Chelsea. Wanted at the Bernabeu or not, he's not a player who'll be going on the cheap.
His Real Madrid contract will still have four years left to run at the end of the 2026/27 season, but Chelsea have shown little reluctance to buy high if they want a player.
Their hand might be strengthened by Alexander-Arnold arguably being third choice at Real Madrid behind not only new signing Denzel Dumfries, but Federico Valverde too. He's played just 343 minutes in La Liga and the Champions League this season.
He started 14 times in La Liga last season. While he has three starts this season, it's not hard to imagine him failing to get another 11 in the league between now and May.
