Chelsea have told Kai Havertz that he is at a crossroads at the club.
The German attacker is the subject of serious interest from Real Madrid and other clubs.
Given he only has two years remaining on a five-year contract, Havertz would be available for a much lower fee in a year's time.
Chelsea want to maximize any funds they receive from sales, which means they will entertain offers for Havertz.
Real are looking at Havertz as one of the players to replace departing Karim Benzema.