Ever since the summer window slammed shut, speculation has been heating up about the situations of Alexander-Arnold, Mohamed Salah and Virgil van Dijk, all of whom can leave for free in 2025 as things stand.
While Salah and Van Dijk are already in their 30s, Alexander-Arnold is about to hit the prime of his career and has long been linked with a move to Real Madrid as a long-term replacement for Dani Carvajal.
A recent report from the Spanish media claimed that Liverpool were 'resigned' to the fact that Alexander-Arnold would not be extending his deal, which would force them to consider bids in January lest they risk him going to the Bernabeu for nothing next summer.
The 26-year-old has amassed over 100 goal contributions for Liverpool - 19 of his own and 83 assists in 321 matches - and speaking to the Liverpool Echo ahead of Monday's 2024 Ballon d'Or ceremony, Alexander-Arnold revealed that he wanted to make history as the first-ever full-back to collect the coveted trophy.
Alexander-Arnold makes confident claim over Ballon d'Or success
"I believe I can win the Ballon d'Or. I want to be the first full-back to ever do it," Alexander-Arnold told the publication. "It's only the morning after you retire that you're able to look at yourself in the mirror and say you've given it everything you have got.
"It doesn't matter how many trophies you win or medals you have got, it matters about what you have given to the game and if you reach your full potential. I've heard potential being thrown around with my name since the age of six.
"If you reach that potential and you know you have and you've given everything to maximise that potential and be the player you believe you can be, which is one of the best ever, then you'll be happy.
"It doesn't matter how many trophies you win, I guess. Do I have the potential to be that? For sure. I believe it. Some people may call me deluded but I believe I can."
Why Alexander-Arnold's comments could spell danger for Liverpool
History does not exactly favour Liverpool over Real Madrid when it comes to the Ballon d'Or, an honour that has only ever been awarded to one Reds player - Michael Owen in 2001.
In contrast, the Ballon d'Or has gone to a man donning the Real Madrid kit 12 times - the joint-most in history alongside Barcelona - and a record eight Blancos players have collected the accolade.
Fabio Cannavaro - the last defender to win the award - was at the Bernabeu when he collected his prize, while Cristiano Ronaldo (4), Luka Modric, Karim Benzema, Alfredo Di Stefano (2), Ronaldo Nazario, Raymond Kopa and Luis Figo have also held the trophy aloft for Real Madrid.
That is not to say that Liverpool representatives are totally out of the reckoning, but the record books suggest that Alexander-Arnold would have a far better chance of fulfilling his Ballon d'Or wish at Real Madrid, especially if they continue their reign of Champions League dominance.
On the other hand, the right-back did double down on his previous claim that trophies are not the be all and end all, although collecting the game's biggest prizes is often a prerequisite for a momentous Ballon d'Or triumph.