According to Alfredo Pedulla, Real Madrid have made a bid of €60 million plus €60 million in installments for Josko Gvardiol.
They will pay the defender €6 million plus bonuses each season, while Chelsea are prepared to give him €9 million a year.
In the past 15 days, the Whites have met with Gvardiol's representatives twice.
Gvardiol only wants to play for Real Madrid, despite the fact that Manchester City and Chelsea's financial offers appear more appealing.