The Norway international is away with Real on their preseason tour, but with little chance of being registered with the first team squad for the new season.
AS says management recognises there's a raft of young midfielders ahead of him in the pecking order and believe his best chance is now to move on.
Odegaard changed agents this summer and there is an acceptance inside his camp that the Madrid move hasn't worked out.
The midfielder spent last season on-loan with Heerenveen.
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