Transfer new: Real Madrid ready to loan Alvaro Morata to Arsenal or Liverpool following U-turn, Arsene Wenger denies reports

The La Liga club still aren't willing to sell Morata but are now open-minded about a temporary switch

Real Madrid striker Alvaro Morata remains a transfer target for Arsenal and Liverpool (GETTY IMAGES)

Arsenal and Liverpool target Alvaro Morata may be set for a short stay in the Premier League after Real Madrid informed the English duo that they are now ready to do business, according to reports.

Today's Daily Mirror says the title-rivals are now considering whether Morata is worth the £1.7m loan fee which Madrid are willing to accept.

The change of heart, after weeks of insisting there is no deal to be done, comes after the Spain Under-21 international admitted he is open to a loan move in search of more regular first-team action.

The nine-time European Cup winners remain reluctant to sell the 21-year-old on a permanent basis.

Morata told Minuto 116: "Real Madrid have been my team since I was little and will be all my life, but I think the important thing is to have a relevant role in the team.

"If I ever feel that's not the case, I would look at other options. In football, it's very difficult to stay at the top and even more so in a team like Real.

"Moving up to the first team is tricky, not everyone deals with it well. If you learn how to handle it, you realise the value of every minute.

"Maybe in five or 10 minutes you have to go on and be decisive in a game. In football every minute is golden."

It remains to be seen whether Arsene Wenger and Brendan Rodgers value to the deal as worthwhile, but the door has finally creaked open on any potential deal.

Speaking at his morning press conference today, Wenger denied the rumours: "Nothing has changed because we are open to a possible solution and if something interesting turns up we will do it.

"It could be a loan as well yes. We are not in talks with Real about anybody. I do not want to speak about any specific names."