Manchester United retain a long-term interest in the Welshman while Spurs could also move to bring him back to the Premier League.
Real Madrid are paving the way to sell Wales star Gareth Bale.
The Spanish giants have placed
Manchester United, Chelsea and Spurs on alert as the Bernabeu hierarchy have become increasingly frustrated with his injuries.
The latest, a thigh problem suffered while attempting to return after a nagging calf injury, is likely to rule the 28-year-old forward out for the rest of the year.
Real Madrid are now open to the offers for their £85million star, who in more than four years in La Liga has won the
Champions League three times, the Spanish title once and the Copa del Rey once.
He also helped Wales record one of their proudest achievements in reaching the European Championship semi-finals last summer.
But now the Premier League is on standby to welcome him back. Manchester United have twice failed with attempts to lure Bale and originally outbid Real Madrid when Tottenham decided to sell – only for the player to opt for a move to Spain.
Now United will be favourites to land him although keeper David de Gea, a long term Real Madrid target, will be mentioned in any transfer discussions. United are loathe to part with their outstanding stopper.