Cue hand-wringing about the state of the modern game; a 22-year-old with no Champions League experience could cost £100m.
The sprightly winger was one of the most talented English players of the nineties but won most of his trophies in Spain.
A select round-up of the latest transfer news relating to Liverpool...
The Manchester United manager is often a hot topic for Liverpool supporters.
Liverpool announced Beale's departure.
Liverpool take on West Ham United in the Premier League on Sunday.
The Liverpool goalkeeper is coming in for criticism after the loss to Bournemouth.
Liverpool will reportedly focus their attentions elsewhere in the January transfer window.
Manchester United and Liverpool are top along with Leicester, while Championship sides Newcastle, Aston Villa and Leeds feature.
Bournemouth produced a stirring fightbacks on the Sunday, the first time in 16 years that Liverpool have been on the wrong end of a 4-3.