Real Madrid attempted to sign Roma striker Edin Dzeko in January but the deal fell through, Marca have reported.
Los Blancos were searching for an alternative to Karim Benzema and contacted the former Manchester City forward.
Chelsea also targeted Dzeko, but like Real Madrid could only offer a role as a substitute. Dzeko opted to stay in Rome where he is a guaranteed starter.
Manager Zinedine Zidane was reportedly reluctant to agree to the signing of Dzeko, although he eventually listened to the board's proposals.
Dzeko has scored 17 goals in all competitions for Roma this season, including the crucial winner in his side's Champions League last 16 victory against Shakhtar Donetsk.
The Giallorossi will play Barcelona in the quarter finals next month, and the club's CEO Umberto Gandini has stressed the significance of Dzeko's decision to stay in January.
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“Him staying was very important,” Gandini said “There was the possibility [of him leaving] and we evaluated it, but ultimately we decided to continue together.
“He’s a very important player for our game, even when he doesn’t score, and we’re very happy with him.
"We’re in a very important phase of the season. This is a team that have always gone through changes to improve themselves, and I believe our performances have confirmed that.
“The market is dynamic. There are great teams that make changes so they have more quality and not just better finances.”