Liverpool have dismissed talk of interest from Real Madrid for Fabinho.
The Liverpool Echo says reports in South America emerged online on Tuesday afternoon claiming the European champions had agreed a deal worth close to £60million with the free-spending Spaniards ahead of Thursday evening's transfer deadline.
Colombian reporter Jose Luis Vergara claimed that the Reds had struck a deal with Los Blancos worth €65m (£59m), with a potential €10m in add-ons, to move Fabinho to the Spanish capital on the eve of the new Premier League season.
Vergara, who works for Medellin-based newspaper El Colombiano, tweeted: "Exclusive: Total agreement between Real Madrid and Liverpool.
"Fabinho will be a Real Madrid player before the market closes. He will sign until 2024.
"The Brazilian player returns to what was his home for a season. The transfer will be made official when Liverpool [sign] a replacement.
"The Spanish club will pay €65m + €10m [in add-ons] and the player's salary will be €7.5m annually."
But the Liverpool Echo says the reports are incorrect and Liverpool have no plans to offload a midfielder who ended his first year as a Reds player with a Champions League winners' medal.