Inter Milan are keeping tabs on Raul's situation at Real Madrid.
Sport says Raul faces the final six months as a Real player as coach Manuel Pellegrini goes with the younger Gonzalo Higuain and Karim Benzema as his attacking options.
Inter coach Jose Mourinho remains a big fan of Raul and would love to bring him to Italy next season for a career swansong.
Raul also has offers from MLS, while he could even hang up his boots and join the football staff at Real next season.
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