Marca reported on Monday that Vazquez had rejected Real Madrid's last contract offer and was prepared to leave when his current deal expires in June.
A move abroad is likely for the Spain international and Premier League duo Leeds and Everton are being mentioned as potential destinations, reports La Quatro via Le 10 Sport. Both clubs have been active in the Spanish transfer market over the past year. Leeds manager Marcelo Bielsa and Everton's Carlo Ancelotti also have past experience in the LaLiga.
Vazquez would like to settle his future by March, so suggesting a willingness to immediately enter pre-contract talks with foreign suitors.
The 29 year-old has battled several injuries this season, but has still managed 25 appearances so far this campaign, scoring twice and also producing five assists.
- updated February 24