Real Madrid on spending spree, now offers eight million pounds for Arbeloa

London, June 13 (ANI): Real Madrid are set to increase their spending spree, after an eight million pounds offer for Liverpool's Alvaro Arbeloa.

There is even speculation the Spanish billionaires will bid 15 million pounds for Chelsea's Ashley Cole to keep him away from Barcelona.

Just 24 hours after agreeing an 80 million pounds fee for Cristiano Ronaldo, Real president Florentino Perez contacted Liverpool with the official bid for right-back Arbeloa.

The Spain ace, 26, was a key player in Kop boss Rafa Benitez's team last season.

But Benitez will struggle to resist Madrid's offer after being told he needs to sell before he can make any major signings this summer, The Sun reports.

Arbeloa actually started his career at Real but played just two games for the club before moving to Deportivo La Coruna.

He was signed by Liverpool for 3 million pounds in January 2007 and Madrid is well aware of Liverpool's mounting financial problems, and convinced that they can prise Arbeloa back to Spain.

Having spent 62 million pounds on Brazilian superstar Kaka and agreeing Ronaldo's switch, Madrid are now turning their attentions to their defence. And they could snatch England ace Cole from Chelsea. (ANI)