Trent Alexander-Arnold is facing a major decision over his long-term future at Real Madrid, with Chelsea prepared to explore a deal if the England international becomes available in 2027.
The 28-year-old has endured an injury-disrupted first season in Spain and has fallen to third choice at right-back under new Los Blancos manager Jose Mourinho. Denzel Dumfries and club captain Fede Valverde are currently ahead of him in the competition for the position.
Alexander-Arnold is unhappy with his reduced status at the LaLiga club and could consider a return to the Premier League. However, a move back to Liverpool is not being considered.
According to Football Insider, Chelsea are ready to offer Alexander-Arnold an alternative if Real Madrid decide to make him available. The London club are understood to be monitoring the situation ahead of a possible move in 2027.
Neither Chelsea nor Alexander-Arnold are considering a transfer during the January market. However, Xabi Alonso is keen to work with the defender again after the pair spent six months together in Madrid.
Chelsea could make an approach for a loan in January, a proposal Mourinho may be willing to consider. Any permanent transfer, though, would be delayed until next summer.