Off contract in June, Guehi saw a deadline day move to Liverpool blocked by Palace.
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Liverpool and the England defender retain hope to reviving a deal in January, however he has also had his head turned by Real Madrid's interest.
Real are keen to take Guehi in a Bosman transfer next summer and unlike Liverpool are free to secure him to a pre-contract from January 1.
And he will welcome Real's approach, says the Mirror, with it claim Guehi will choose the Spanish giants over Liverpool if he must decide between the two giants.