Diario AS report that Liverpool have already agreed a £30million fee plus three members of Real Madrid's B team - central defender Alvaro Arbeloa, midfielder Javi Garcia and forward Ruben de la Red.
Meanwhile Marca claim that Gerrard's management company SFX are key to a possible move.
"They are the same company that worked with Beckham and also works with Owen and Woodgate. The three ended up at Real Madrid," claims the paper.