The 29-year-old looks set to leave Real Madrid as a free agent once his contract expires at the end of the season.
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Ceballos has largely been a bit part player for the Spanish giants, starting just four of his 15 La Liga games in 2025-26.
According to AS, Ajax have launched an audacious move to sign the midfielder as part of their expected overhaul this summer.
New sporting director Jordi Cruyff is wasting no time in his mission to improve the squad following another disappointing season.
