Chelsea could agree a deal for loanee Mateo Kovacic - despite their potential transfer embargo.
The Blues are waiting to hear the outcome of their appeal against the embargo that would prohibit them from registering players this summer.
But Los Blancos have offered the Londoners the chance to extend Kovacic's loan at Stamford Bridge for another season.
However, it would come with an obligatory option to buy in a deal worth around £26million, which Real insist must be signed off by May 5.
That could cause a problem, but it is understood extending an existing loan would be a way around the issue.
Kovacic is keen to remain in London and does not feature in Zinedine Zidane's plans in the Spanish capital.
But the Croatian has made just 14 starts in the Premier League, failing to score and providing only two assists.
Despite his struggles, Maurizio Sarri recently said he would like to keep the midfielder.
“I’d like very much that Kovacic will stay with us," said the Italian.
“You know very well that in that position we have some problems because we have only Jorginho. In my opinion, Kovacic could become a very good central midfielder.”
Kovacic has not started for the Blues since the 2-1 win against Cardiff last month, playing twice as a substitute in the four games in the meantime.
