Real Madrid are seeking a loan deal for Liverpool winger Jermaine Pennant.

The Mirror says Real have agreed a £3.5million permanent deal for Pennant but are making a fresh bid to sign him on a six-month loan.

Pennant is a free agent in the summer and Liverpool are unlikely to allow him to go on loan unless he agrees to a 12-month contract extension at Anfield.

Pennant has also been offered a pre-contract with AC Milan.