Real Madrid are allegedly planning to offer Chelsea Gareth Bale and £100m to secure the signature of Blues midfielder Eden Hazard.
The Spanish giants, who are plotting a squad overhaul at the end of the season, have earmarked Belgian international Hazard as a key target in the summer transfer window.
According to The Express, Los Blancos are prepared to lose Bale - and part ways with £100m - to push through a potential deal.
Hazard, who is contracted at Chelsea until 2019, is allegedly in talks with the West London club over an extension at Stamford Bridge, although the newspaper adds that the 27-year-old would not rule out a move to the Spanish capital.
Madrid are also allegedly interested in the services of Blues goalkeeper Thibaut Courtois, whose contract runs until 2020.