Offers are beginning to arrive for departing Real Madrid fullback Alvaro Arbeloa.

The defender is leaving Real as his contract expires next month.

Fotomac says Fenerbache has tabled an offer to Arbeloa, which he has welcomed.

However, the former Liverpool fullback is also in talks with Shanghai Shenhua.

Panathinaikos have made contact, though Arbeloa has no interest in a move to Greece.