That's according to football business expert Dave Powell, who says the defender's potential Bosman agreement with Real Madrid would represent a major setback for Liverpool over their Profit & Sustainability battle.
He told the Liverpool Echo: "Should Trent Alexander-Arnold exit Liverpool this summer then there is a pretty big void for the Reds to fill, and one that hasn’t had the benefit of a big slice of incoming funds from a sale to aid it.
"Alexander-Arnold’s departure to Real Madrid is a blow, and it is no secret that the club and Arne Slot wanted to keep him as part of the team.
"He is, after all, one of the world’s best in his position, has a unique skill set that has been so instrumental in Liverpool’s success, and he is 26, meaning he has plenty of road left to travel and in his prime. Pinning down how much a player earns often involves a considerable amount of guesswork."
Powell added: "But by using the most widely reported figures, sums of around £180,000 to £200,000 per week seem to be in the ballpark for his weekly wage. That would put him around the £10million mark for the year.
"Given the way that Liverpool owners Fenway Sports Group traditionally operate in the market it is likely that they will look for someone a little younger to come in and fill that void, and that will mean that the wage outlay will likely be significantly cheaper.
"However, Alexander-Arnold would be leaving on a free transfer, and being 26 and moving to a club overseas would mean that Liverpool get no compensation for his services, despite the fact that they offered him a new deal and he has been in the Reds system since he was a child.
"Had there been two or three years on his deal then the club would have been looking at a likely £80million to £100million price tag, and that would have been pure profit given the fact he had no book value. But would they have been looking to sell him? I would argue not.
"Quite what has transpired behind closed doors we do not know, and it is rumour and conjecture at this point. But for Liverpool, while they may be able to shave £2million or £3million off an annual salary for a right back that can eventually step up to be the man, they will still face the reality that such players are likely to be £35million to £50million in the current market."