The 31-year-old Frenchman captained his country to glory this summer at the 2018 World Cup, and is now said to have caught the attentions of Los Blancos, potentially tempting the Spanish giants to make a move.
Lloris has been a consistent and key performer in the Spurs squad for a number of seasons now. Since joining the London club in 2012, the Nice-born goalkeeper has gone on to make 254 appearances in all competitions for Tottenham.
The target in the upcoming season for Tottenham will be pushing for silverware and many fans see Lloris as a key part of that aim.
Should Spurs choose to cash in on the player, as unlikely as it seems, then it would leave the club with only current second- and third-choice goalkeepers Michel Vorm and Paulo Gazzaniga - and likely needing to sign a top-quality replacement.
As such, while the consensus of the fans remains that Lloris will not depart this summer for Real Madrid, there are also those expressing their irritation at such a reportedly low figure touted by Madrid.
One fan even went so far as to suggest an extra £100m added to the valuation would be more appropriately priced.
Others pointed to the number of Spurs players being linked with moves away this summer, often to Real Madrid, in the tabloids.
Fans also reminded others that Real Madrid are not in any need of a new goalkeeper, given they still have the services of current number one Keylor Navas, as well as more than competent backups in Kiko Casilla and Luca Zidane - son of former French star Zinedine Zidane.
Madrid also added a fourth goalkeeper to their roster this summer when they signed 19-year-old Ukrainian hot prospect Andriy Lunin from Zorya Luhansk for €8.5m plus add-ons.
Many believe the rumours to be just that - rumours. With nine Spurs players making it to the World Cup semi-finals this summer, it's no surprise their names keep cropping up in transfer speculation.