Instead, they're focusing on Athletic Bilbao keeper Kepa Arrizabalaga this month, according to Spanish expert Guillem Balague.
He told Sky Sports: “It looks quite clear that Real Madrid have changed their targets in terms of goalkeepers.
“Athletic Bilbao's Kepa has an agreement with Real for now or the summer.
“Zidane has stopped the possibility of arriving now so it seems Real will wait for the summer, and then they would like to convince Courtois, who would like to go to Real Madrid, but of course there is a third party, which is Chelsea, and let's see how much they ask for him.
“I know everybody is saying he is close to renewing his contract but I would say don't believe it fully because he is trying to see how far Real Madrid are willing to go and if they are willing to go far for him and really go after him then he will delay his renewal as much as he can.
“The interest is there and I think Courtois is not in a rush to renew yet. If Real show interest he will listen and there have been conversations.
“Courtois will need Real to put an actual offer on the table which they have not done yet."