Arsenal are being linked with a move for James Rodriguez.
James is on loan at Bayern for the rest of the season. But he is not wanted by the German club, while Real are likely to cash in as they begin a squad revamp in the summer.
There is a lot of speculation that his time in Bavaria is coming to an end. And Spanish outlet Don Balon claim that bid of a £63m would be enough to sign the Colombian star.
The source suggests that Liverpool would also have an interest in the attacker, who can play wide right or behind the striker.
The 27-year-old has only started five Bundesliga games all term.
