Real Madrid believe England star Jude Bellingham is most likely to go to the Premier League due to the financial muscle of Liverpool and Manchester City.
Carlo Ancelotti's side are said to be interested in signing the 19-year-old who has become one of the world's most sought after players.
However, the Spanish giants face stiff competition from Premier League clubs when the midfielder's current deal expires in summer 2025.
According to reports in The Athletic, Los Blancos would not be able to match offers made by teams in the top-tier of the English football system.
Birmingham-born Bellingham has seen his stock rise off the back of last year's World Cup tournament.
He produced outstanding performances and starting every match in the Middle East as England suffered a quarter-final exit.
It is understood that Liverpool are ready to go all in on signing the Borussia Dortmund player this summer, having had a quiet January window.
The Reds have long admired the teenager and are now planning for the future, given Jurgen Klopp is desperate to bolster his midfield.
Their rivals Man City are also keen on Bellingham and have earmarked him over a summer move.
Ancelotti is keen to freshen up his midfield given Luka Modric and Toni Kroos are in the twilight years of their career.
Exciting talents such as Aurelien Tchouameni, 22, and Eduardo Camavinga, 20, are already emerging as new options in Madrid, and Bellingham could be the last piece of the puzzle.
It comes as it was reported that Dortmund will make Bellingham one final big-money offer in a bid to persuade him to stay at the club this summer.
According to Bild, the German side are preparing a last-ditch offer worth £13.25million-a-year - that would see Bellingham become the highest-paid player in the club's history - in a desperate bid to keep him.
Talks are said to be planned with Bellingham's adviser Mark Bennett - a friend of the England star's family - for March at the latest.
Dortmund chief executive Hans-Joachim Watzke and sporting director Sebastian Kehl are 'fighting' to convince him to stay in the Bundesliga for one more year.