According to the report, Liverpool value their 26-year-old World Cup and Copa America winner at over 100 million euros, a sum Madrid are hesitant to pay outright.
Instead, they are considering including Rodrygo, a target for Liverpool as a possible replacement for Luis Diaz, who has attracted interest from Barcelona and Bayern Munich.
"Real Madrid are exploring all avenues to land Mac Allister," a source told Defensa Central. "Rodrygo's inclusion could make the deal attractive for Liverpool."
The Spanish giants have already signed Liverpool's Trent Alexander-Arnold for 8.5 million pounds this summer for the 2025 FIFA Club World Cup and are targeting Reds defender Ibrahima Konate, who has signaled he won't renew his contract and could leave in 2026.
Liverpool, however, are cautious about dealing with Madrid after losing out on Aurelien Tchouameni, Jude Bellingham, and Alexander-Arnold in recent years.
"Liverpool are reluctant to negotiate," Defensa Central noted, highlighting the Reds' frustration.
Mac Allister has reaffirmed his loyalty to Liverpool. In April, he told TyC Sports, "I'm fine at Liverpool, and I don't need to talk about other clubs."
After winning the Premier League, he posted on Instagram, "Lifting the trophy with Liverpool is a dream come true. Thank you to the club and fans."
X posts show Liverpool fans backing Mac Allister, with one writing, "Alexis is untouchable!" A Real Madrid fan account countered, "Rodrygo for Mac Allister could be massive."
Italian journalist Rudy Galetti reported AC Milan are eyeing a Madrid defender, while speculation swirls that Madrid might sell Vinicius Junior next summer, potentially affecting their transfer plans.
Liverpool are holding firm, but Madrid's bold swap offer could spark intense negotiations.
Liverpool head coach Arne Slot has urged his team to follow their emotions in the aftermath of the tragic death of teammate Diogo Jota and his younger brother Andre Silva.
Liverpool are reportedly preparing a blockbuster 130 million euro bid to sign Real Madrid's Vinicius Junior as a potential replacement for Luis Diaz, who is edging closer to a move to Bayern Munich, according to recent reports.
Luka Modric, the celebrated Croatian midfielder, has bid farewell to Real Madrid after an illustrious 13-year spell and is set to embark on a new adventure with AC Milan.
Chelsea delivered a stunning 3-0 victory over Paris Saint-Germain in the FIFA Club World Cup final at MetLife Stadium, claiming the title in the competition's revamped format.
