Real Madrid are reportedly planning to include Eden Hazard in a player-plus-cash deal for Chelsea wing-back Reece James.
Hazard's underwhelming time at Real Madrid seems destined to end in 2022, with the Belgian thought to be one of several names on the chopping block.
Meanwhile, Los Blancos are supposedly seeking competition and backup for Dani Carvajal at right-back, which has led to their rumoured interest in James.
According to El Nacional, Real are not prepared to fork out Chelsea's asking price of €60m (£50.5m) but are hopeful of driving the price down by sending Hazard back to Stamford Bridge.
However, the report adds that Roman Abramovich is desperate to keep James at the club at all costs, and the Blues chief also has no interest in reuniting with Hazard.
Everton, West Ham United and Newcastle United have also been tipped to bring the 30-year-old - who boasts just five goals and nine assists from 57 games for Real Madrid - back to the Premier League.
