Sunderland boss Gus Poyet wants to bring Alonso back to Wearside this season after last term's loan success.
After attempting a straight swap involving Modibo Diakite, TMW says Sunderland returned to the negotiating table on the weekend.
The latest offer is Diakite plus €2.5 million in exchange for Alonso.
For his part, former Real Madrid defender Alonso would be happy to return to England long-term.
For the big stories and the banter follow us on Twitter: @tribalfootball