Chelsea owner Roman Abramovich refused Real Madrid's push to include Mateo Kovacic in the deal for Eden Hazard.
It was announced yesterday that Chelsea had agreed to sell Hazard to Real for a fee rising to £130-150m.
However, AS says the deal was only struck stepped in to insist on a straight cash deal.
Real president Florentino Perez had attempted to insert Kovacic, who was on-loan at Chelsea last season, at a price of €50m. But Abramovich refused to do business.
As such, the future of the Croatian remains undecided.