The Daily Mail says a major rift has developed between the star Portuguese forward and Madrid manager Jose Mourinho following a training-ground row, and Perez is reluctantly willing to listen to offers.
Madrid paid a world-record fee of £80m to Manchester United in 2009 and Perez has said he would want to make a significant profit to appease the supporters for the sale of their best player.
While there would be numerous suitors for his signature, even top clubs will balk at the astronomical fee and the player’s wages. At Madrid he commands a salary of 20m euros a year, leaving him with 12m euros net - more than £200,000 a week. It might take a net weekly wage in excess of £300,000 to prise him away from Spain.
Madrid may have to lower their asking price to attract any serious suitors unless, of course, Manchester City change their spending plans - or are forced to do so if they lose their talismanic Argentinian captain Carlos Tevez.
A return to Manchester United could also be on, with chief executive David Gill insisting earlier this season that over £100 million was available for future signings.