Don Balon says Martial has emerged as a target for the European champions as an alternative to Harry Kane.
Real's priority for next summer's transfer window is to sign Tottenham hitman Kane.
But if a deal cannot be done, Martial will be sought as an alternative.
Compatriot Zinedine Zidane would strongly back a deal for the 22-year-old.
And it is said Martial wants to try his luck in Spain where he believes he can reach his full potential.
The former Monaco goalscorer is ready to turn his back on Manchester and the Premier League to link up with Zidane.