Real Madrid are convinced Sergio Aguero will become available from Manchester City next year.
Real are banking on City's push for Arsenal attacker Alexis Sanchez to release Aguero for sale.
Don Balon says they're keeping tabs on the former Atletico Madrid striker.
President Florentino Perez is a long-time admirer of the 29-year-old and is preparing to launch a £60m bid to bring him back to the Spanish capital.
Manchester City are reportedly willing to do a deal once the capture of wantaway Arsenal star Alexis is confirmed.