The Russian side are not willing to pay the price-tag given to Cheryshev by Real Madrid.
This week it has been reported that Liverpool are ready to snap up Denis Cheryshev from Real Madrid. It was reported by talkSPORT that the deal to sign the player could be worth up to £14 million.
The Russian has caught the eye with excellent performances at Villarreal on loan last season, scoring seven goals in 40 appearances for the club.
They would have loved to have him back, but with Liverpool lurking he looks unlikely to play for the Yellow Submarine next term.
However, Liverpool are not the only team interested in the player. Russian giants CSKA Moscow are now also being reported as keen by the press in Moscow.
Izvestia report that CSKA want the player, but not permanently. The report claims CSKA are not willing to meet the price-tag for the player but would take him on a one-year loan deal.
With the European Championships coming up Cheryshev may indeed want the chance of regular first-team football in his homeland, which might see him cement a place in the national squad for France.
Cheryshev has never played for a Russian team, his father moved to Spain in 1996 where he now remains.
Real Madrid may favour a loan move. It will see them keep hold of a talented player who can hopefully develop even further before making in-roads to the Real first team.
Liverpool better hope Real want a sale.