Real Madrid and Atletico are chasing Liverpool winger Jermaine Pennant.
The News of the World says Pennant, currently on loan at Portsmouth, cost the Anfield side £8million when he signed three years ago but will be a bargain Bosman free transfer at the end of the season.
Spanish giants Real Madrid fancy Pennant, 26, as an impact player coming off the bench in the second half while Atletico see him as a potential first team regular.
Pennant's agent has been in Spain this week talking to both clubs.