"I think with Trent, I think he's gone," Sherwood said. "Once Real Madrid come knocking for you... He's won everything at the football club and been a magnificent servant but there's no chance they're keeping him now I wouldn't have thought."
Alexander-Arnold is not the only player at Liverpool nearing the end of his contract as Virgil van Dijk and Mohamed Salah, two other key members of the squad, are also approaching the final stages of their current deals, raising further concerns for the club.
When asked if Slot could help convince the trio to stay at Anfield, Sherwood argued that the impact of Liverpool’s strong start to the season can be crucial.
"That helps," he said. "We’re talking about three world-class players who want to win trophies. They’re not interested in just fighting for Champions League spots - they want to be lifting silverware, and a strong start to the season can only help Liverpool’s case. With Virgil van Dijk and Mohamed Salah, I think it's completely different because I'm not sure where they are going to go which is better than Liverpool."