Well we havent lost Xabi yet and if we lose him I hope we make Real pay through the nose.
There are some names below from the Times. Noble I think is also a long term possibility but in the short term would be a massive gamble. Aquilani is also an option but would take a while to adapt to the pace of the English game.
My personal favourites would be Defour or Sneijder although he always seemed to be a more forward player to me than Xabi.
Wesley Sneijder
Alonso's likely arrival at the Bernabeu may well see Sneijder nudged towards the exit door. Florentino Perez is looking to offload some of Real's Dutch contingent, including Sneijder, Arjen Robben, Rafael van der Vaart and Royston Drenthe. Sneijder is an excellent ball player, but more mobile and adventurous than Alonso, whilst having an eye for a goal. The Dutchman's versatility would appeal to Benitez who is no stranger to rotating his side.
Michael Johnson
He is Manchester City's forgotten midfield man thanks to injury but remains one of English football's brightest prospects. Benitez is reportedly a fan and there have been quiet comparisons between Johnson and Steven Gerrard in terms of their athleticism and all-round ability. Johnson may be considered a risk, but if he is still available for the reported £8 million Newcastle were prepared to pay for him in January, he could prove a snip. Equally important is the fact that this would release further funds for Benitez to put towards another major transfer target, ie David Silva.
Sulley Muntari
The Ghanaian was linked to Liverpool during his stint at Portsmouth and still has many admirers in the Premier League. Athletic, committed and tenacious, Muntari doesn't possess Alonso's range of passing but is certainly an effective midfield enforcer. However, it remains to be seen if he could be prised away from Jose Mourinho's clutches.
Steven Defour
Whilst he appears to be one of Everton's main transfer targets this summer, it wouldn't be the first time Benitez has hijacked a move by the Toffees - Mohamed Sissoko, anyone? Defour was Mouraine Fellaini's midfield partner at Standard Liege. Considered the golden boy of Belgian football, Defour has long been linked with a transfer to either La Liga or the Premier League and, at the age of 21, represents a good investment. He is a creative playmaker with an impressive work rate and therefore a potential fan favourite at Anfield.
Miguel Veloso
The Portuguese midfielder has been looked at by Arsenal, Manchester United and Bolton in the past, but no move has yet materialised for the 23-year-old. Veloso is a youthful yet experienced defensive midfielder who can also provide cover at centre back. He is from the 'Michael Carrick' mould of holding midfielders, with good positional sense and an eye for a pass.