Alexis Sánchez has his heart set on leaving Arsenal next summer and Real Madrid are believed to be monitoring the Chilean winger, according to a report from Spanish media outlet Mundo Deportivo.
The 28-year-old could be the perfect player to help Los Blancos regain their form that has seen them dominate European football over the last two years.
However, Real Madrid could find persuading Alexis to move back to Spain difficult because of the three-year spell he had with their bitter rivals, Barcelona.
There have been a number of reports in recent weeks linking Inter Milan captain Mauro Icardi with a move to Madrid.
Although the 24-year-old goal machine would be a fantastic long-term replacement for Karim Benzema in their attack, news that Barcelona are looking to sign Mesut Özil - a former Real Madrid player - could persuade club president Florentino Pérez to move for Alexis instead.
Both Alexis and Özil are out of contract next summer, with clubs allowed to approach the two Arsenal stars in January over a potential move.
The Gunners would much prefer to see Alexis and Özil leave the Premier League next season, especially considering that Manchester City and Manchester United are interested in poaching the Chilean and German respectively in the summer.
Regardless of where Arsenal's key duo end up next season, the Gunners will have a huge mountain to climb when it comes to identifying replacements.
Lyon's Nabil Fekir has been linked with a £60m move to north London in recent weeks, with the potential of linking up with his former teammate, Alexandre Lacazette, believed to be enough to convince the 24-year-old of leaving the Groupama Stadium next season.