Carlo Ancelotti's side finished third in La Liga last season, as Barcelona and Atletico Madrid finished above them in the title race. In a bid to return to the summit of Spanish football, Real have brought in Levante goalkeeper Keylor Navas, Bayern Munich midfielder Toni Kroos and Monaco playmaker James Rodriguez, splashing out around £90m for the trio.
Navas' arrival should see Diego Lopez leave the club, whilst Angel di Maria has been linked with an exit given Rodriguez's signing. However, the signing of Kroos seems to be causing the most confusion, with Sami Khedira strongly linked with a move to Arsenal this summer.
Yet whilst the German's exit has been most reported, it's former Liverpool star Xabi Alonso who is now being tipped to leave the Spanish capital this summer. The 32-year-old has reportedly returned to pre-season training having lost a lot of weight, and Madrid staff are concerned about his general fitness - leading to speculation in Spain that Alonso will be sold on.
Napoli have been linked with a move for Alonso, with his former boss Rafael Benitez a known admirer from their time at Liverpool together, but could the Reds make a shock move to bring Alonso back to Anfield?
Brendan Rodgers generally plays with one holding midfielder, one box to box player and one attacking player in his midfield three. Joe Allen and Jordan Henderson tend to share responsibility of the box to box role, and Adam Lallana and Philippe Coutinho should see a similar situation in attacking midfield.
However, in front of the back four, Emre Can has been brought in from Bayer Leverkusen and could take some time to adjust to the Premier League. Steven Gerrard is now 34, and is susceptible to niggling injuries. With Champions League football also likely to take it's toll on Gerrard, bringing in an experienced to level player like Alonso could be wise given the general youth of Liverpool's team.
Alonso's technique and passing range makes him perfect for Rodgers' style of football, and if the price is right, an emotional return to Merseyside could be ideal for all parties in a short-term stay - five years after his 210-appearance stay at Liverpool came to an end.