Liverpool winger Jermaine Pennant has been left sweating on a £3.5 million move to Real Madrid.

The Mirror says the Spanish giants have drawn up a three-man hit-list which also includes Wigan's £15m rated winger Luis Valencia and Benfica's £17m wideman Angel di Maria.

Real will hold a board meeting next week to discuss which one of the three names they will sign - but sporting director Predrag Mijatovic wants Pennant.

Mijatovic hopes to sign Pennant on the cheap as the ex-Arsenal player only has six months left on his contract.

Juande Ramos, Real Madrid's former Spurs boss, was said to be annoyed that Mijatovic went behind his back to agree a deal for Pennant.

There has also been interest in Pennant from Tottenham and Wigan.