Liverpool are ready to let Javier Mascherano leave as per his wishes and are eyeing Stiliyan Petrov as his replacement, Liverpool Hospitality News can reveal.

Reds boss Roy Hodgson is reported to be prepared to pay £7million for the 30-year old Bulgarian in a deal that will surely net him some spending cash with Javier Mascherano expected to go for much more to join former boss Rafael Benitez at Inter Milan.

Villa are keen to keep their squad together with so many of their first team stars wanted by rival clubs but Petrov is apparently aware of Liverpool’s interest.

Talented midfielder Javier Mascherano says that he is still unsure of his future. The Argentina captain, who led his side to a quarter-final exit at this summer's World Cup, has been linked with a reunion with ex-Reds supremo Rafael Benitez at the San Siro all summer. These rumours follow his attempts last year to engineer a transfer to Spanish giants Barcelona.

Speaking to reporters on the club's pre-season tour to Switzerland, Hodgson brushed off the hard man's refusal to make contact with him.

"I've tried to contact him. I've left him voice messages and text messages but I haven't had a reply," Hodgson said.

"That's because, to be fair, he had a very tough World Cup and went back to Argentina, I guess, it's not always as easy to get back in touch.

"I've tried to reach him and made it clear to him I'm very happy to talk to him at his convenience but as of yet we've not had that conversation."

The former Fulham boss also blanked quotes from Javier Mascherano's agent that declared his client's desire to make the switch to Inter.

He responded: "As far as I know we've had no approach from Inter and I don't understand where those quotes come from."

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Barcelona are set to make a run at Liverpool midfielder Javier Mascherano but their move for Arsenal captain Cesc Fabregas could hinder the deal.

The Catalan giants tried to bring the Argentina international to the Nou Camp last summer but with Yaya Toure likely to leave Barcelona will have to fill the void left at defensive midfield.

However, the Reds will be seeking about £30 million for the Argentine captain, which could test their transfer budget as Arsenal want over £40 million for Fabregas.

Selling Toure, who has garnered interest from Chelsea, could earn Barcelona £20 million but with the La Liga champions already completing a big money move for Valencia striker David Villa it is unlikely that Barca will be able to sign both Mascherano and Fabregas this summer, according to the Daily Mail.

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Javier Mascherano insists memories of past European disappointments will not be his driving force as he attempts to move a step closer to winning his first piece of silverware as a Liverpool player this evening.

Mascherano has yet to taste success with Liverpool since moving to Anfield in February 2007, although he has come agonisingly close on a couple of occasions - especially in Europe. He was part of the side that lost the 2007 Champions League final 2-1 to AC Milan, and also the following year when Liverpool were knocked out of the same competition at the semi-final stage after going down 4-3 on aggregate to Chelsea.

To some, the pain of those losses could serve as an inspiration, but Mascherano admits he prefers to look forward than back. Speaking ahead of tonight's Europa League semi-final first leg against Atletico Madrid at the Vicente Calderon, the Argentina midfielder said: "I try not to think of the past. For me the present is best and I try to think in the present. We have one of two 'finals' against Atletico, so we will try to get a good result and get through to the final in Hamburg.

"Whenever you lose you always feel that it's not a good experience. (But) I try to take away the positives when we lose and we got to the final in 2007. We couldn't win but we were there and that's important.

"If you lose in a final it's because you got there. We cannot think about two or three years ago, we need to think about this team and tomorrow because this team is totally different.

"We will try to win against Atletico and not think about anything else."

Liverpool midfielder Javier Mascherano will sit out Wednesday's Carling Cup tie at Arsenal, insisting his colleagues must build on their heroics against champions Manchester United.

Mascherano was red-carded during that stunning 2-0 victory and is banned from the fourth-round clash at the Emirates. But the Argentina skipper is certain Liverpool must not let up now they have found their form again.

He said: "Beating United was very important for our confidence, but it's just one win, we must do it again in the Carling Cup at Arsenal on Wednesday and then over and over again in the league and in Europe."

Liverpool follow Wednesday's match with a trip back to the capital on Saturday to play Fulham, ahead of next Wednesday's Champions League clash in France against Lyon.

Neither Fernando Torres or Steven Gerrard are expected to be involved against Arsenal. Torres was only 80% fit after a groin injury against United, but still managed a cracking opening goal.

Gerrard sat in the stands with old team-mates Sami Hyypia and Dietmar Hamann, nursing his own groin problem.

Liverpool manager Rafa Benitez admits he needs to hold talks with Javier Mascherano to resolve the Argentina midfielder's future at Anfield.

Mascherano was keen on joining Barcelona in the close-season after the European champions approached Liverpool over a deal for the Argentina captain.

Benitez hinted that Barca forward Lionel Messi, a compatriot of Mascherano's, had been trying to persuade his international team-mate to make the switch to the Nou Camp.

But the Liverpool boss refused to agree to the transfer because he was already resigned to losing Xabi Alonso to Real Madrid.

There is now speculation that Liverpool want to offer the 25-year-old a contract extension in order to prolong his stay at Anfield and Benitez told Sky Sports News: "We were talking with Mascherano before. He knows we have to have a meeting and talk about his future.

"There is a possibility that we will be friends, and will talk about things in private."

Liverpool are set to offer midfielder Javier Mascherano a new, more lucrative long-term contract to stay at Anfield.

The Argentine international was heavily linked with a big money move to Barcelona this summer after reports suggested he was discontent with teammates such as Steven Gerrard, Dirk Kuyt and Fernando Torres being offered new deals by the club.

But Benitez says the club value Mascherano fully and aim to get talks underway on a new contract very shortly.

“We were talking with Mascherano before. He knows we have to have a meeting and talk about his future,” he told Sky Sports News.

“There is a possibility that we will be friends, and will talk about things in private.”

Mascherano made his 60th appearance for the club during Sunday’s defeat at Tottenham.

Javier Mascherano doesn’t believe Manchester United are as strong as they were last season.

The Premier League champions have lost Cristiano Ronaldo and Carlos Tevez this summer, and the Liverpool midfielder feels in doing so they have lost some of their threat.

"I have seen some of United's friendlies and they don't look that strong,” said Mascherano. "Those two absences are the kind that you notice and they will take their toll over the season."

Despite the Argentine’s opinions, United started the season with a 1-0 win over Birmingham City, whilst the men from Anfield were defeated 2-1 at Tottenham Hotspur.