Manchester United and Arsenal are two of several clubs prepared to bid for James Rodriguez, according to Marca.
Rodriguez, 28, joined Real Madrid from Monaco in 2014 but has struggled to establish himself at the club. He was sent out on loan to Bayern Munich, but the German club eventually opted not to make the move permanent.
Los Blancos remain keen to move the Colombian international on, and according to the report, they will now entertain bids in the region of £22.5million.
That has enticed both Manchester United and Arsenal as well as several other Premier League clubs including Everton and Wolves. It remains to be seen whether a bid will be forthcoming.