Nike see an opportunity as tension rises between Real Madrid and adidas.
Real chiefs are upset over adidas' new kit deal with Manchester United - which is worth €96 million-a-year. Real's agreement with adidas is worth €40 million less.
"The club are unhappy as they are champions of Europe and United has not won anything.
"This has meant Nike wants to get involved with Real Madrid and offers €120 million per season."
Real Madrid and adidas have been partners since 1998.