Real Madrid are prepared to use Karim Benzema in a swap for Arsenal attacker Alexis Sanchez.
Don Balon says Benzema has been earmarked for the Bernabeu exit.
The report says Real are looking to sell Benzema for £44million which could in turn, fund a move for Sanchez.
Benzema's current contract expires in 2019, but it is unclear whether they will extend his deal.
And his availability raises the possibility of the Frenchman being offered to the Gunners in a swap for Alexis.