The Italy international has developed into a key player for Mikel Arteta, as first choice at left back, alongside a versatility to cover centrally as needed.
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Los Blancos were linked with an offer for him prior to a 2024 move from Bologna to North London and that interest has remained in place.
As per Caught Offside, Real Madrid have reached out to sources close to Calafiori to assess his interest over a move, but Arsenal remain steadfast in their own approach.
His current value is rated at around €65M, but with a contract in place until 2029, the Gunners could demand closer to €100M to consider a sale.