But Liverpool are unwilling to pay the £17million wanted by Media Sports Investment, whose representatives held talks on Merseyside this week.
Rafa Benitez values Mascherano, 23, closer to £10m but the possibility of a quick deal is complicated by the manager's uncertainty about his transfer budget.
Mascherano, whose current deal ends in the summer, told the News of the World: "I hope the situation will be sorted in the next month.
"If I could make the decision I'd stay at Liverpool because I'm really happy here.
"I don't want to keep moving every summer but if I don't play in Liverpool, I won't play for another club in England. Not even Chelsea, Arsenal or Manchester United. It would be impossible to play against Liverpool for another English team."
