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Real Madrid have told Arsenal boss Arsene Wenger they are now willing to listen to offers for striker Alvaro Morata.

It comes after the Spain Under-21 international admitted he is open to a loan move in search of more regular first-team action.

Real’s stance has softened after initial interest from English clubs was rebuffed. The Spanish giants, while still unwilling to sell Morata, are ready to accept a loan fee of around £1.7million.

Both Wenger's Gunners and title rivals Liverpool are admirers of the talented 21-year-old.

New Real boss Carlo Ancelotti has opted for another of the club’s rising stars, 20-year-old Jese Rodriguez, as the main understudy to first-choice striker Karim Benzema.

Morata, a player Spurs wanted as part of the massive deal that took Gareth Bale to the Bernabeu last summer, has said: “It’s important to have a proper role in the team.

“I’ve been at Real Madrid my whole life and I’ve been a Real Madrid fan since I was a boy. I will be all my life, but it’s important to have an important role.

“If the moment comes that I don’t, I will look at other options. Staying at Real Madrid is complicated. Playing five or 10 minutes is okay if you accept it. You have the chance to get on the pitch and try to change a game in a short space of time. Every minute in football is gold.”