Liverpool and Chelsea could struggle to land Fabio Coentrao in the summer amid reports Real Madrid are ready to use him as a makeweight in their bid to sign Edinson Cavani.
The Spanish champions are desperate for a new centre-forward and have targeted Cavani, who has scored 95 goals in all competitions since joining Napoli from Palermo in 2010.
But according to Tuttosport, Real are unwilling to match Napoli's £54m asking price and will instead offer £35m and Coentrao for the Uruguayan - and the Italian side are thought to be receptive to the idea.
Coentrao, who cost Real £26.4m when he moved from Benfica in 2011, has started less than half of his side's league fixtures this season.
The Portuguese was tracked by Chelsea before he moved to the Bernabeu and they could reprise their interest if he is made available for transfer.