Chelsea could be forced into selling prized-asset Reece James in the summer transfer window, with Real Madrid keeping a close watch on the developing situation at Stamford Bridge.
It is expected Chelsea will need to sell a host of players by June 30 in order to balance the books, following their spending of more than £600 million over the past two transfer windows, and James could yield the club some vital funds for compliance with UEFA's financial fair play (FFP) regulations as well as the Premier League's profit and sustainability rules.
James could be available for a cut-price deal, too, with Marca reporting Real Madrid are willing to test the resolve of Chelsea with a £62 million bid for the 23-year-old.
Real Madrid have retained a strong interest in James for a number of years now, with first-choice right-back Dani Carvajal 31-years-old now and approaching the twilight of his career.
And, with recent developments at Chelsea - the club posted overall losses totalling £343m over the four years of published accounts up to 2021/22 - Los Blancos might look to take advantage of the financial complications.
Despite having recently signed a new contract that will keep him at Chelsea until 2028, James represents good value for the Blues as owner Todd Boehly needs to offload players so as not to fall foul of financial regulations.
Currently, Chelsea have 31 first-team players listed on the club's website. Malo Gusto, signed in January but loaned back to Lyon, is a promising right-back who is still to come to the club, too.
The Frenchman could be trusted to become the first-choice right-back at Chelsea, should James leave for the Bernabeu.
First, though, James will look to beat his potential future employers in the second leg of the Champions League on Tuesday night. Real Madrid head into the game 2-0 up on aggregate, after Karim Benzema and Marco Asensio gave the Spanish giants a convincing lead heading into the second game.
